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Snags in renewing grain deal stem from non-compliance with Russian requirements — minister

"There is no one hundred percent guarantee that the grain deal will be extended at this time, but some serious efforts are now underway and there are hopes for success. Our efforts and the UN’s efforts are continuing," Turkish Foreign Minister Mevlut Cavusoglu said

ANKARA, May 3. /TASS/. The prospects for renewing the Black Sea Grain Initiative are currently unclear and will depend on whether Russia’s requirements are adequately addressed, Turkish Foreign Minister Mevlut Cavusoglu said on air in an interview with Turkey’s NTV television channel.

"There is no one hundred percent guarantee that the grain deal will be extended at this time, but some serious efforts are now underway and there are hopes for success. Our efforts and the UN’s efforts are continuing," the foreign minister said. "The core problem is that the deal was extended only for 60 days due to the failure to meet Russia’s requirements. In particular, this pertains to the issue of reconnecting the Russian Agricultural Bank to the SWIFT system and guarantees for banks in respect of payment for foodstuffs," Cavusoglu said.

"Problems with exports from Russia continue, and these are serious issues. The UN Secretary-General [Antonio Guterres] is making very important, sincere efforts in this respect. Plugging the Russian Agricultural Bank back into the SWIFT system is being discussed, but there are some difficulties there as well. Western companies, based in the US and the UK, are not very eager to work with [the Russian Agricultural Bank]. We can see that," the minister noted, saying that Turkey "has suggested using Turkish banks as intermediaries" in this regard.

"We told the UN that we would support such a decision if there are no threats to our banks in this case, if such guarantees are given. The technical details are being discussed now. Still, this is a very challenging issue," the foreign minister said. Ziraat Bank could participate in such a mechanism from the Turkish side, Cavusoglu added.

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