Connection of Rosselkhozbank to SWIFT for the grain deal is not planned

Plans to connect Rosselkhozbank to the SWIFT settlement system for the purpose of restoring the grain deal, no, declared TASS diplomatic sources in the UN. Earlier, the Turkish Anadolu agency reported that the organization had prepared a new package of proposals with the participation of Turkey on the resumption of the grain deal, which dealt with the Russian Agricultural Bank.

“Earlier, it was proposed to carry out settlements through the SWIFT system with a subsidiary of Rosselkhozbank, but not with the bank itself. We are talking about the development of these ideas,” TASS said.

According to the interlocutor of the agency, the UN and Turkey on their own cannot ensure the connection of the subsidiary structure of the Russian Agricultural Bank to SWIFT, since this requires the consent of the European Union and the United States. He also noted that the technical implementation of such a proposal could take several months.

2 September Turkish Minister of Foreign Affairs Hakan Fidan said that the UN has prepared a new package of proposals with the participation of Turkey to resume the grain deal. As Anadolu reported, its most important elements were the inclusion of the European subsidiary of Rosselkhozbank in the SWIFT system and the release of the frozen assets of Russian fertilizer companies in Europe.

Presidents of Russia and Turkey Vladimir Putin and Recep Tayyip Erdogan will meet in Sochi on Monday, September 4. It is expected that during the talks they will discuss, among other things, the settlement of the situation in Ukraine and the extension of the grain deal.

Russia suspended participation in the grain deal on 17 July. Moscow justified this decision by the lack of progress in the implementation of the Russian part of the deal, which involves reconnecting Rosselkhozbank to the SWIFT payment system and resuming the operation of the Togliatti-Odessa ammonia pipeline.