EU Considers Reconnecting Sanctioned Russian Bank to Secure Grain Supply

The European Union (EU) is seeking to reconnect a sanctioned Russian bank to the global financial system in order to address the worsening global food crisis. The move is aimed at securing Russian President Vladimir Putin's support to extend the Black Sea grain deal, which expires soon. The deal allowed Ukraine to export its food products from its ports during a blockade by Russia. The proposal would allow the state-owned Russian Agricultural Bank to handle payments related to grain exports and use the SWIFT messaging system. This concession is seen as the "least worst option" to secure Putin's support for the extension of the grain deal. The international community faces challenges in dealing with the sanctions imposed on Russia, and the potential reconnection of the Russian bank to SWIFT highlights these difficulties.