'The direct channel between the Russian Agricultural Bank and JPMorgan...was closed on August 2,' says the Russian foreign ministry.
UNITED NATIONS – US bank JPMorgan this week stopped processing payments for the Russian Agricultural Bank, Russia said on Friday, August 4, as it demanded action, not promises, from Washington to help Russian grain and fertilizer reach global markets.for the past few months with reassurances from Washington. However, that cooperation stopped this week, Russia’s foreign ministry said on Friday.
“The direct channel between the Russian Agricultural Bank and JPMorgan…was closed on August 2,” foreign ministry spokeswoman Maria Zakharova was quoted by Russian media as saying.Moscow had allowed the safe export of Ukraine grain via the Black Sea for the past year under a deal it. Russia has a list of demands it wants met before it will return to the arrangement.
Under a related pact – also brokered in July 2022 – UN officials agreed to help Russian food and fertilizer exports reach global markets. “As soon as this is done, this deal will immediately be renewed,” Kremlin spokesman Dmitry Peskov told reporters on Friday.SWIFT international payments systemZakharov, the foreign ministry spokeswoman, said the West and the United Nations “tried to present as a working alternative to SWIFT.”
US Secretary of State Antony Blinken told reporters on Thursday, August 3, that Washington would continue to do “whatever is necessary” to ensure Russia can freely export food if the Black Sea grain deal was revived.
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