Proposals have been made that swaps be made with a subsidiary of Rosselkhozbank, not with the bank itself, through the SWIFT system. The development of these ideas is currently being evaluated.
Such a plan would need permission from the US and the European Union and would take several months to implement.
Turkish government agency Anadolu wrote yesterday that the United Nations has submitted new proposals for a grain deal that includes the reconnection of the Russian Ziraat Bank to the SWIFT system and the release of Russian fertilizer companies’ assets in Europe.
Source: Ferra
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