The creation of the Russian Agricultural Bank's subsidiary to connect it to the SWIFT payment system is under discussion, a source close to talks on the grain deal extension told Sputnik on Monday, adding that the EU has not yet proposed any specific mechanisms
ANKARA (Pakistan Point News / Sputnik - 03rd July, 2023) The creation of the Russian Agricultural Bank's subsidiary to connect it to the SWIFT payment system is under discussion, a source close to talks on the grain deal extension told Sputnik on Monday, adding that the EU has not yet proposed any specific mechanisms.
Earlier in the day, the Financial Times newspaper reported that the European Union is looking into the possibility of reconnecting the Russian Agricultural Bank to SWIFT through the creation of a subsidiary to safeguard the Black Sea Grain Initiative, which is due to expire on July 17.
"Yes, such discussions have been underway, and for some time now. But no specific mechanisms have been received from the EU, perhaps the situation will clear up in July, the UN is also working on this," the source said.
