Washington urged JPMorgan to 'be patient' before the U.S. bank stopped processing agricultural payments for Moscow after it quit a deal allowing the safe Black Sea export of Ukraine grain, a senior State Department official told Reuters on Wednesday. JPMorgan had handled some Russian grain export payments for a few months with reassurances from Washington.
NEW YORK - Washington urged JPMorgan to "be patient" before the U.S. bank stopped processing agricultural payments for Moscow after it quit a deal allowing the safe Black Sea export of Ukraine grain, a senior State Department official told Reuters on Wednesday.
"It was JPMorgan's decision, and in fact, we had ... made clear to the Russians that if they could show signs they were returning to the deal, it would be much easier to keep this payment system alive," James O'Brien, head of the State Department's Office of Sanctions Coordination, told Reuters. "We did not encourage it. In fact, we encouraged them to be patient if Russia would show any sign," O'Brien said during an interview on the sidelines of the annual gathering of world leaders at the United Nations in New York.
"The bombardment is also undermining our efforts," Guterres said. "It has led many of those whose goodwill is needed, notably in the private sector, to question whether there is any real interest in re-joining the Black Sea Initiative."Russia quit the pact - a year after it was brokered by the United Nations and Turkey - complaining that its own food and fertilizer exports faced obstacles and that not enough Ukrainian grain was going to countries in need.
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