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Sergey Lavrov: the proposal to connect a subsidiary of the Russian agricultural bank to SWIFT is impracticable

Sergey Lavrov: the proposal to connect a subsidiary of the Russian agricultural bank to SWIFT is impracticable

The Russian Foreign Minister, Sergei Lavrov, today described the proposal of the UN to connect a subsidiary of the Russian agricultural bank in Luxembourg to the SWIFT interbank system to reactivate the grain agreement, since it does not have a banking license.

In a press conference at the end of the G20 summit, Lavrov explained that, after reading the letter from UN Secretary General António Guterres, “unfortunately it gives the impression again that (the West) is trying to use it to promote unilateral approaches ”.

He explained that Russia has been promised “to do something to connect an entity to SWIFT within a period of two or three months and that they will try to reach an agreement with the insurer Lloyd’s” to cover shipments of Russian grain and fertilizers, to in order to get Russia to “urgently” resume its participation in the Black Sea Initiative, from which it left in mid-July.

However, Lavrov argued, instead of promising to reconnect Rosseljozbank to SWIFT, as Russia demands so it can export its grain and fertilizers, the West “is trying to persuade us to accept a totally unworkable scheme.”

He said that the subsidiary of the Russian agricultural bank in Luxembourg “does not have a license to carry out banking operations” and that it will also “close” its office in that country.

Regarding the idea of ​​negotiating with Lloyd’s insurance for Russian grain and fertilizer supplies, the Russian minister stated that Russia does not know what structure is intended to be created and what functions it will have.

He also said that Europe and the US promised to unfreeze the assets of Russian fertilizer companies, but at the same time these companies will not be able to carry out banking transactions.

To return to the agreement, Moscow demands, among other things, the reconnection of Rosseljozbank to SWIFT, the lifting of sanctions on spare parts for agricultural machinery, the unblocking of logistics and transport insurance, and the resumption of the operation of the ammonia pipeline. Togliatti-Odessa, which exploded on June 5.

Lavrov reiterated that the moment “all” obstacles to Russian grain and fertilizer exports have been removed, “on that same day we will return to the collective implementation of the Ukrainian part of the Black Sea Initiative.”

Prepared with information from EFE

Source: Gestion

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