A senior Turkish official noted that Ziraat Bank will not handle payments for grain shipments from Russia without explicit written permission from the United States and the United Nations. The statement emphasizes a formal process, aligning with how major financial institutions often require clear, documented authorization before engaging in sensitive cross-border commodity transactions.
According to a source cited by TASS, the bank would act as a mediator only after receiving the written approval and instructions from the USA and the UN. The arrangement would not move forward in any form without this documented consent, underscoring the importance of official sign-off in international trade during this period of heightened sanctions and regulatory oversight.
The current grain agreement is set to expire on May 18. A meeting is scheduled for May 5 in Istanbul, bringing together representatives from Turkey, Russia, and Ukraine. The agenda includes exploring options to broaden the Black Sea initiative and ensure continued opportunities for grain shipments while addressing regulatory and logistical considerations among involved parties.
On May 3, Turkish Foreign Minister Mevlüt Çavuşoğlu stated that the challenge of extending the grain deal centers on Russia’s adherence to certain demands. He highlighted issues such as the potential reactivation of Rosselkhozbank to the SWIFT payments network and the guarantees banks must provide to settle agricultural trade. The remarks reflect ongoing negotiations where banking access and payment guarantees play a crucial role in sustaining the flow of food staples.
Ziraat Bank, founded in 1863, is a state-owned institution in Turkey that provides a wide range of services. The bank supports commercial lending for businesses and merchants, alongside consumer financing options for individuals, including personal loans, auto loans, and home loans. This breadth of services positions Ziraat Bank as a key player in facilitating Turkey’s commercial and consumer financing needs while intersecting with international trade flows and sanctions compliance.