UN and US requirement for Russian grain payments from Ziraat Bank

A senior Turkish official said that within the scope of the negotiations to extend the duration of the Black Sea grain corridor, Ziraat Bank may mediate the payments that Russia will make and receive for grain exports, but this will not happen without approval and written assignment. from the US and the United Nations (UN) on a transaction basis.

The Black Sea Grain Corridor deal, which allows Ukraine, which is fighting Russian occupation, to export grain again and lower world food prices, was signed last year with the mediation of Turkey and the UN. The contract is extended for a specified time.

ÇAVUŞOĞLU AGRICULTURAL BANK MADE A STATEMENT

However, Russia claimed that promises made to it under the deal were not kept and that it would leave the deal by mid-May if barriers to grain and fertilizer exports were not removed. Banking and insurance sanctions imposed on Russia by Western countries prevent or make it difficult for Russian banks to make international payments.

Foreign Minister Mevlüt Çavuşoğlu stated last week that Ziraat Bank could mediate the payments, in a statement he made last week on negotiations to resolve Russia’s objections.

HIGH-LEVEL AUTHORITY: CARRIED OUT BY UN CONDITION

A senior official briefing Reuters said negotiations for Ziraat Bank to act as intermediary are continuing, saying: “Ziraat Bank will mediate transactions with US and UN written approval and assignment, as in the case from JPMorgan. .

He noted that Ziraat Bank would not participate in this mechanism unless written approval was given on a per-transaction basis from the relevant countries and institutions.

Stating that negotiations are continuing between the parties, the official said only grain export payments from Russia are expected to be mediated at this time. He did not comment on whether Russia would act as an intermediary for fertilizer export payments. (Reuters)