UN and Afreximbank to develop a platform to facilitate the export of Russian grain

The UN is working with the African Export-Import Bank to develop a platform to facilitate the processing of transactions related to the export of Russian agricultural products and fertilizers to Africa. About it Reuters said Rebeca Greenspan, head of the UN Conference on Trade and Development.

As Ms. Greenspan clarified, cooperation with Afreximbank is aimed at eliminating disruptions in trading operations and creating a more flexible procedure for due diligence of clients in the face of sanctions. The head of the UN Conference on Trade and Development believes these measures will help advance the grain deal, which she says will guarantee food security around the world.

On April 26, Reuters, citing a source from the Russian side, reported that the American bank JPMorgan Chase & Co. received permission from the US government to process payments for Rosselkhozbank. At the same time, according to the source, the agreement is temporary and cannot act as an analogue of SWIFT. The UN later clarified that the operation involving JPMorgan had indeed been carried out. However, no other details were provided.

The grain deal is valid until July 17, the last time it was extended on May 17. For its further extension, Russia demands to reconnect Rosselkhozbank to the SWIFT international payment system and restore ammonia supplies through the Togliatti-Odessa pipeline. The UN said that they would facilitate trade deals with Russia through the Russian Agricultural Bank. The Kremlin called unconstructive the unwillingness of some EU countries to reconnect Rosselkhozbank to SWIFT.

More details – in the material “Kommersant” “Wheat floats on.”

Milena Kostereva


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