UN Seeks Alternatives to SWIFT to Maintain Russian Agricultural Bank Transactions

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The United Nations has said it continues to work with the Russian Agricultural Bank to keep essential operations moving. This effort is part of broader diplomatic work to secure access to critical materials and services amid continuing sanctions pressures. The spokesperson emphasized ongoing commitment to finding practical solutions that maintain supply chains for member states and humanitarian needs.

According to the spokesperson, there are viable pathways for processing such transactions outside the traditional SWIFT system. While the SWIFT framework is often the preferred route for international payments, officials indicate that alternative mechanisms can support continuity where SWIFT constraints exist.

The message is clear: engagement with a wide range of partners remains a priority. Talks include key players in Europe, the United Kingdom, the United States, Russia, and other nations, all aiming to ensure reliable access to essential goods and financial flows despite geopolitical frictions.

In parallel, Rebeca Greenspan, the chair of the United Nations Conference on Trade and Development, is described as continually advancing these discussions, underscoring the organization’s focus on facilitating trade and development under current sanctions regimes.

Earlier, a representative from the European Union’s foreign policy service noted that the bloc did not reintegrate Rosselkhozbank into the SWIFT network. The decision is framed as part of coordinated sanctions responses by EU members and allies in response to Russia’s actions in Ukraine. Officials indicated that sanctions are designed to remain in place until the conflict concludes, with any relaxation contingent on a broader political settlement and verified changes on the ground.

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