The United States gave JPMorgan (JPM.N) permission to process payments for agricultural exports via the Russian Agricultural Bank, but the arrangement was no substitute for reconnecting the bank to the SWIFT system, two Russian sources told Reuters.
Access to the SWIFT payment system for the Russian Agricultural Bank is one of Moscow's main demands in negotiations over the future of the Black Sea grain export deal, which the United Nations says helps to tackle a global food crisis that has been aggravated by the Ukraine war.
Russia's grain and fertilizer exports are not subject to Western sanctions imposed following the February 2022 invasion of Ukraine, but Moscow says Western restrictions on payments, logistics and insurance are a barrier to shipments which has a chilling effect on poor Countries.
Let us take a different approach to peace. Sanctions on the Russians didn't help the West, the East, the rich and mainly the poorest people and nations of the world.
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