Earlier this month, the Russian Foreign Ministry said that the grain deal had been extended until July 17 without any changes, but if all problematic issues of the initiative are not resolved in two months, it would be terminated after July 17.
The ministry added that there were five "systemic" tasks to be solved within the framework of the Russia-UN memorandum, including the re-connection of the Russian Agricultural Bank to the SWIFT system and the unfreezing of assets of Russian companies.
"Currently, together with the UN, we are negotiating with Western countries, mainly with the US and the United Kingdom, in order to remove obstacles in financial transactions when Russian products gain access to world markets. The process is difficult, but negotiations continue. I can say that there is an understanding that this is necessary for the smooth operation of the mechanism," the source told Sputnik.
On May 18, the Russian Foreign Ministry said that the grain deal had been extended until July 17 without any changes, but if all problematic issues of the initiative are not resolved in two months, it would be terminated after July 17. The ministry added that there were five "systemic" tasks to be solved within the framework of the Russia-UN memorandum, including the re-connection of the Russian Agricultural Bank to the SWIFT system and the unfreezing of assets of Russian companies.
The grain deal was brokered by the United Nations and Turkey in July 2022 to facilitate exports of Ukrainian agricultural products from Black Sea ports during the hostilities that began in February of that year. 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 due to Western sanctions.