US seeks ‘proper way’ to relink Russia to SWIFT
(MENAFN) US Treasury Secretary Scott Bessent has confirmed that Washington is exploring various options, including potentially reconnecting Russian banks to the SWIFT network, as part of its broader sanctions review. This comes after Moscow requested that its Agricultural Bank (Rosselkhozbank) and other institutions involved in food and fertilizer trade be reconnected to the international payment system, following discussions on the Black Sea ceasefire initiative.
The US and EU cut off major Russian banks from SWIFT in 2022 as part of a sanctions campaign linked to the Ukraine conflict. Bessent stated that while discussions are ongoing, it is too early to discuss the terms of any deal. He emphasized that whether sanctions are eased or tightened will depend on Russia's actions and that all options remain open.
The Black Sea Grain Initiative, which initially aimed to ease restrictions on Russian agricultural exports, faced challenges, including what Moscow perceived as failures in the agreement’s implementation. The US and Russia recently agreed to revive the initiative following extensive talks in Saudi Arabia. President Donald Trump also confirmed that his administration is considering easing sanctions on Russia, subject to specific conditions.
However, the EU has firmly stated that sanctions will not be lifted until Russia withdraws from all Ukrainian territory, with European Commission spokesperson Anitta Hipper reiterating this stance. Russian President Vladimir Putin, on the other hand, has characterized the sanctions as a long-term strategy to weaken Russia and stressed that the country’s economy has become more resilient due to these measures.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
