America Allows JPMorgan to Process Export Payments for Moscow

A Russian source told Reuters that JPMorgan Chase & Co. has received permission from the United States to process payments for the Russian Agricultural Bank. However, this method cannot replace the reconnection of the bank to the SWIFT financial transaction system. Reconnecting the bank to SWIFT is one of Russia's main demands in negotiations regarding the future of the grain export agreement through the Black Sea. Moscow has repeatedly warned that the agreement will end unless the West eases the obstacles hindering Russian grain and fertilizer exports.