Russia said on Tuesday that a deal mediated by the United States to stop military operations in the Black Sea would only be implemented when some sanctions, notably those aimed against its state-owned agricultural lender, were removed.
Both Russia and Ukraine agreed to “eliminate the use of force” in the Black Sea, according to the White House earlier, after separate negotiations with the two countries in Saudi Arabia.
The US side’s statement only mentioned that it would assist in restoring “access to the world market” for Russia’s agricultural and fertiliser exports; it made no mention of easing sanctions.
The Kremlin stated that the truce will “enter into force after the lifting of sanctions on Rosselkhozbank (Russia’s state-owned agricultural lender) and other financial institutions involved in providing international trade operations in food and fertilisers.”
Additionally, the reconnection of those institutions to the SWIFT network—an international payment system that has been barred from use by certain Russian banks—was demanded.
Moscow has long lamented that its exports have been hampered by limitations on shipping insurance and its state lender, Rosselkhozbank, which finances agribusiness, even though the West has not imposed outright sanctions on Russian agriculture.
In addition, the Kremlin said it has agreed to collaborate with the US on the details of a 30-day energy truce that President Vladimir Putin declared last week and that Kyiv has accused Moscow of regularly violating.
“Russia and the US agreed to develop measures to implement the agreements of the presidents of the two countries to ban strikes on Russian and Ukrainian energy facilities,” the statement said.
According to the Kremlin, it has agreed that outside parties could participate in monitoring certain components of any future truce.
Ukrainian President Volodymyr Zelensky had earlier told reporters that Türkiye and other nations could keep an eye on some aspects of it.
