The European Union (EU) is trying to find an opportunity to connect a subsidiary of Agricultural Bank of Russia to SWIFT to extend the grain deal. In this respect informs Reuters, citing the source.
The grain deal expires on July 17, so EU officials are still trying to find an opportunity to link Rosselkhozbank’s subsidiary to SWIFT. However, Russia had previously named Rosselkhozbank’s reconnection to SWIFT as one of the conditions for extending the agreement.
Agency sources indicated that the EU does not want to reconnect the bank directly, but could make an exception for its “daughter”.
Earlier in July, the Financial Times had already written that the process of creating a subsidiary by Rosselkhozbank to reconnect to the SWIFT system and, by extension, save the grain deal, had begun. However, the EU has not yet provided specific mechanisms for this.
July 4 at the Russian Ministry of Foreign Affairs in your name The idea of creating a “Rosselkhozbank” branch to connect to SWIFT as part of the EU’s “grain deal” is “clearly passable”.
Previously in the Kremlin discretion chance to extend the grain deal and unlock SWIFT.