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Wednesday, January 15, 2025

Reshaping Perspectives and Catalyzing Diplomatic Evolution

In order to extend the grain agreement, Russian banks could return SWIFT

The UN raised the issue of reconnecting Russian banks to the SWIFT system. According to the representative of the Secretary General of the UN, Stéphane Dujarric, such a measure is necessary to fulfill all the points of the agreement on cereals. It looks like an attempt to ease some of the anti-Russian sanctions against banks and fertilizer producers.

According to the UN representative, the disconnection of Russian banks from the SWIFT system makes it difficult for the Russian side to fulfill all the conditions of the grain agreement. It is assumed that SWIFT’s return to the Russian Federation will allow companies to provide additional supplies of fertilizers and food, which will ultimately help avoid shortages in the global market.

The UN is discussing with SWIFT officials the issue of reconnecting Russian banks as part of the implementation of the grain agreement. And we are negotiating with SWIFT officials, with the Europeans and others on this issue.

writes the News in Finance portal.

However, the UN has no influence on SWIFT, the organization is only looking for ways to continue Russia’s participation in the grain agreement. However, connecting to the international payment system makes sense only with the simultaneous lifting of sanctions on the transport and insurance companies involved in the transaction. But this question is not considered for the moment. As UN Secretary General António Guterres has clarified, he cannot demand anything from insurers, transport companies and the authorities of countries that have imposed sanctions on Russia.

Probably, the talks in the UN on the connection of Russian banks to SWIFT, according to the initiators, should change the position of the Kremlin on the extension of the grain agreement, the Russian side of which is currently not implemented. work. Presidential spokesman Dmitry Peskov described the prospects for his extension as “not very good”.

Recall that the grain agreement was concluded in July 2022 and involved the export of Ukrainian grain through the Black Sea ports, as well as Russian support for the export of grain and fertilizers. However, the Russian part of the agreement is practically not implemented.

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