The European Commission has proposed to unblock some funds from sanctions-freeze Russian banks to help restart trade in agricultural and food products, according to a document consulted by AFP on Tuesday.
“After the competent authorities of a Member State determine that these frozen funds or resources are required for the purchase, import or transport of agricultural and food products, including wheat (…) and fertilizers, they may allow the release of certain funds or economic resources from banks. “details the proposal submitted to EU States.
The measure has been sent to the representatives of the 27 EU countries in Brussels and, if adopted, will submit a written procedure to be approved on Wednesday and implemented from Thursday.
This offer concerns seven Russian banks: Bank Rossiya, Promsvyaebank, VEB-RF, Otkritie FC Bank, Novikombank, Sovcombank and VTB Bank.
“EU member states want to make it clear that there is nothing in the sanctions that prevents grain shipments from Russia or Ukraine,” an EU diplomat told AFP on condition of anonymity.
Africa, which imported more than half of its pre-conflict wheat from these countries, is putting pressure on European countries because it believes that European sanctions affect grain trade.
Macky Sall, President of Senegal and Acting President of the African Union, warned of the consequences on this trade that excluding major Russian banks from the international financial system SWIFT, an important secure messaging mechanism for fund transfers.
“Even if the products are available, payment becomes complicated, almost impossible,” he said in a video conference speech to EU heads of state and government in Brussels in May.
EU diplomacy chief Josep Borrell said the EU accuses Moscow of hindering Ukraine’s grain exports and making sales expensive by imposing a 30% export tax on Russia, causing shortages and price increases.
source: Noticias
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