Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Government Media Office in Gaza: So far, 7 bodies have been recovered, while two remain under the rubble, in a scene that epitomizes genocide.
Government Media Office in Gaza: 9 children from one family were killed in an Israeli massacre against the "Al-Najjar" family in Khan Yunis.
Gaza Government Media Office: Over 300 miscarriages have occurred among pregnant women due to the lack of essential nutrients.
Gaza Government Media Office: 26 kidney patients have lost their lives due to the absence of nutritional and medical care.
Gaza Government Media Office: 58 Palestinians have died due to malnutrition, and 242 due to lack of food and medicine.
Ranjbaran to Al Mayadeen: There is a difficult path full of challenges ahead for the indirect talks
Ranjbaran to Al Mayadeen: Defending the Resistance, the Palestinian cause, the Lebanese Resistance, and confronting Zionist crimes throughout the entire region are at the top of the Foreign Minister’s agenda
Ranjbaran to Al Mayadeen:Currently, both Tehran and Washington consider uranium enrichment a red line, but the Americans' red line exists only on paper, whereas our red line is inviolable under any circumstances, and the Americans fully understand this
Ranjbaran to Al Mayadeen: Iranian FM Abbas Araghchi will not back down in the face of US pressure or its media tactics aimed at influencing the other party. They know well that he is a seasoned diplomat who will not lose his way
Ranjbaran to Al Mayadeen: "Israel" has proven that it makes decisions on behalf of the Trump administration and is using all its capabilities to sabotage these talks

Russia discussed with UN reconnecting Russian agrarian bank to SWIFT

  • By Al Mayadeen English
  • Source: Agencies
  • 12 Nov 2022 19:19
4 Min Read

Russia is mulling reconnecting the Russian Agricultural Bank to the SWIFT payment system in order to facilitate grain exportation amid a global food crisis.

  • x
  • The Russian Agricultural Bank (Rosselkhozbank)
    The Russian Agricultural Bank (Rosselkhozbank)

Russia discussed with UN officials in Geneva the issue of reconnecting Rosselkhozbank, the Russian Agricultural Bank, to the SWIFT payment system, with the former saying it was ready to solve the problem, Russian Deputy Foreign Minister Sergey Vershinin said on Saturday.

Last February, Russian banks were excluded from the SWIFT interbank payment system by the European Commission and its allies. The maneuver was intended to hit the country's banking network and its access to funds via SWIFT, which is pivotal for the smooth transaction of money worldwide.

"From my point of view, reconnecting Rosselkhozbank [to SWIFT], which processes the majority of agricultural transactions, is a key issue," the top Russian diplomat said commenting on the results of the Friday talks.

United Nations chiefs held discussions with Russian officials on Friday, eight days before one of the agreements was set to expire, regarding the Black Sea agreement on exporting grain and fertilizers. The mid-afternoon discussions were held behind closed doors at the UN Palais des Nations headquarters in Geneva.

UN trade and development agency chief Rebeca Grynspan, UN humanitarian chief Martin Griffiths, and a delegation from Russia led by Deputy Foreign Minister Sergey Vershinin discussed "steps taken to facilitate payments, shipping insurance, and access to EU ports for grains and fertilizer" during their meeting.

The UN-brokered deal, signed by Turkey, Russia, and Ukraine on July 22, is set to expire on November 19. It established a humanitarian maritime corridor for ships transporting food and fertilizer from the Ukrainian Black Sea ports.

"Without this, we simply cannot move forward. We have been discussing this issue before; we talked about it very substantively and at length yesterday," Vershinin added.

According to the deputy foreign minister, the UN representatives assured the Russian delegation that they see the issue at hand as vital, noting that his country will seek to reconnect Rosselkhozbank to SWIFT.

Meanwhile, Russia is considering establishing correspondent accounts in Citibank and JPMorgan as a temporary solution to the ongoing issue, the diplomat added, highlighting how the only real solution was for the West to completely reconnect the Russian Agricultural Bank to SWIFT.

Related News

Erodgan, al-Sharaa discuss sanctions and normalization in Istanbul

Damascus, Ankara ink energy deal to supply gas, boost electricity

Russian Deputy Foreign Minister Alexander Pankin revealed late last month that the Bank of Russia was actively developing the Financial Message Transmission System.

Russia believes that a gradual shift from the SWIFT interbank payment system to more secure channels for sending financial information protected from external pressure is necessary, according to Russia's Deputy Foreign Minister Alexander Pankin in an interview for TASS.

Read next: Iran, Russia to create joint interbank payment system: Diplomat

Russia in talks to use Mir card

The barring of all Russian clients by the main international payment networks is illogical, according to Pankin.

To this end, Russia is discussing the use of the Mir payment card with several states, such as Azerbaijan, China, and Egypt, Pankin said in the interview.

Read next: Iran to join Mir banking system within months: Iran Finance Ministry

"The unreasonable blocking of all Russian customers by the largest international card payment systems has increased the priority of expanding the geography of using Mir cards. We are actively working on it," he said.

"Negotiations with Azerbaijan, Bahrain, Egypt, India, China, Cuba, Myanmar, Nigeria, Thailand, and other countries are at different stages," the top Russian diplomat said.

He recalled that the Russian payment system is now available in Abkhazia, Armenia, Belarus, Vietnam, Kazakhstan, Kyrgyzstan, Tajikistan, Turkey, Uzbekistan, South Korea, and South Ossetia.

Read next: Why cutting Russia from SWIFT is bad for the west

  • Turkey
  • Russia
  • United Nations
  • Grain deal
  • Ukraine
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025
Rachel Accurso criticized for speaking out on Gaza children crisis

Ms. Rachel accused of antisemitism for speaking out for Gaza children

  • Politics
  • 20 May 2025
Martyrs, injuries in violent Israeli bombardment of southern Gaza

Israeli operation fails; IOF launch violent strikes on Gaza

  • Politics
  • 19 May 2025
The spokesperson for the Yemeni Armed Forces, Brigadier General Yahya Saree, giving a statement on Friday, April 11, 2025 (Yemeni Military Media)

Yemeni Armed Forces declare Haifa Port under naval siege

  • Politics
  • 20 May 2025

Coverage

All
War on Gaza

Read Next

All
Eric Coquerel, a parliament member of the far-left La France Insoumise (The Unbowed) party attends a demonstration outside Sciences-Po university in Paris, Friday, April 26, 2024 (AP)
Politics

French teacher suspended for minute of silence in solidarity with Gaza

Palestinian landlord Akram Sabra, 60, stands next to a vehicle burnt under attack by Israeli settlers overnight, in the West Bank village of Bruqin, near Salfit Friday, May 23, 2025. (AP Photo/Nasser Nasser)
Politics

Israeli settlers torch homes, vehicles in West Bank village

Iranian Foreign Minister Abbas Araghchi, left, reads a paper in a meeting with his Omani counterpart Sayyid Badr Albusaidi at the Omani Embassy in Rome during the fifth round of Iran-US negotiations, Friday, May 23, 2025 (Iran Foreign Ministry)
Politics

Iran-US talks in Rome yield limited progress, Omani FM says

AP
Politics

EU sought ship, port, energy ties in nixed proposal to Trump: Report

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS