Russia is requesting to lift the sanctions on Rosselkhozbank in order to restore financial relations with international banks.
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Russia is requesting to lift the sanctions on Rosselkhozbank in order to restore financial relations with international banks.

Russia is proposing to Western countries to lift sanctions from Rosselkhozbank to restore financial ties with international banks and process payments for grain exports. The EU is discussing the possibility of using the bank for trade with Russia. The US is convincing businesses of the independence of food products from sanctions.

23 February 2025 23 February 2025

Russia has appealed to Western countries with a proposal to lift sanctions against Rosselkhozbank in order to restore financial ties with international banks for processing payments for grain exports, reports "RBC" citing information from "Reuters".

Prior to the imposition of international sanctions, nine international banks and subsidiaries of Russian banks in Switzerland were handling payments for Russian grain and other agricultural products, according to the agency's report. According to "Reuters", it is still unknown how Western countries responded to Moscow's proposal.

Currently, the possibility of making payments through Rosselkhozbank is being discussed with the European Union and other interested parties, a UN source reported. A European Commission official, who was not named, emphasized that European sanctions were not imposed to restrict trade in food and agricultural products of Russian origin, so restrictions were provided with certain exceptions.

An insider, well-informed about the negotiations between the parties on the grain deal, reported that the issue of Rosselkhozbank arose in discussions on the resumption of the agreement, but this topic was not the reason for Moscow's withdrawal and subsequent change of position.

A State Department official told "Reuters" that the US had taken steps to persuade businesses that the sanctions did not apply to food products. Among other things, the department sent letters to companies that wanted assurances that transactions did not violate the restrictions.

"We want to see both Russian and Ukrainian grain on the global markets," - emphasized a US State Department official.

Russia considers the sanctions illegal and demands their cancellation. In late September, the Foreign Ministry stated the need to lift sanctions against Rosselkhozbank.

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