Meet me halfway here, please!
Jul 19, 2023๐ช๐บ๐บ๐ณ๐ท๐บ The European Commission is helping the UN and Turkey in their attempts (rather, heroic tries) to extend the Black Sea Grain Initiative. How, exactly? Well, since Russia has been complaining so much that it hasn't gotten its end of the deal, that is, support for its grain and fertilizer exports, the EU has sent Putin a letter offering to connect a subsidiary of the Russian Agricultural Bank (Rosselkhozbank) to the international payment network SWIFT.
The idea is to allow for the much desired transactions of Russian grains and fertilizers – for as long as Russia allows the Black Sea deal to continue for several months while the EU works on the transactions. There's been no response from Putin yet. For more details, click here.