UN asks Putin to extend Black Sea grain deal in return for linking Russian bank to Swift, say sources

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UN asks Putin to extend Black Sea grain deal in return for linking Russian bank to Swift, say sources
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Russia has threatened to ditch the grain deal, which expires on Monday. Read more at straitstimes.com.

in return for connecting a subsidiary of Russia’s agricultural bank to the Swift international payment system, sources told Reuters.

The last two ships travelling under the Black Sea agreement are currently loading cargoes at the Ukrainian port of Odesa ahead of the deadline. However, the EU is considering connecting to Swift a subsidiary of Rosselkhozbank to allow specifically for grain and fertiliser transactions, three sources familiar with discussions told Reuters on Wednesday.Mr Guterres has proposed to Mr Putin that Russia allow the Black Sea grain deal to continue for several months, giving the EU time to connect a Rosselkhozbank subsidiary to Swift, two of those sources familiar with discussions told Reuters.

“The objective is to remove hurdles affecting financial transactions through the Russian Agricultural Bank, a major concern expressed by the Russian Federation, and simultaneously allow for the continued flow of Ukrainian grain through the Black Sea,” UN spokesman Stephane Dujarric told reporters.

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