Cavusoglu: Turkish Bank Mediation in Payments for Russian Grain, Fertilizers on Agenda

Turkey’s Foreign Minister Mevlut Cavusoglu speaks during a joint news conference with German Foreign Minister Sigmar Gabriel in Ankara, Turkey, Monday, June 5, 2017InternationalIndiaAfricaANKARA (Sputnik) – The issue of the mediation of a Turkish bank in payments to Russia for the sale of grain and fertilizers is on the agenda, the goal is to keep the Black Sea Initiative, Turkish Foreign Minister Mevlut Cavusoglu said on Friday. “The question of a Turkish bank mediating payments to Russia for the sale of grain and fertilizers is on the agenda. The goal is to solve the problem and keep the deal,” Cavusoglu said, as quoted by the Turkish newspaper.RussiaCentral Banks of Turkey, Russia to Start Working Out Ruble Gas Payments, Energy Minister Says19 September 2022, 07:51 GMTEarlier this week, Cavusoglu said that UN Secretary-General Antonio Guterres suggested that Ankara consider the possibility of mediation by Turkish banks in resolving the situation with the access of Russian agricultural products to global markets. The Black Sea Grain Initiative, signed between Russia, Turkiye, Ukraine and the United Nations amid the military conflict in Ukraine in July 2022, provides for exports of Ukrainian grain, food and fertilizers over the Black Sea from three ports, including Odessa.The package agreement also includes a memorandum of understanding between Russia and the UN to unblock Russian grain and fertilizer exports via the Black Sea, which, according to Moscow, has not been implemented amid Western sanctions. In March, Russia extended the deal for 60 of possible 120 days.Russia requested that in order to further extend the grain agreement after its expiration on May 18, the normalization of Moscow’s agricultural exports, including bank payments, transport logistics, insurance, unfreezing of financial activities and the supply of ammonia through the Tolyatti-Odessa pipeline, must be ensured.

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