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E-mail Xinhua, March 26, 2025
MOSCOW, March 25 (Xinhua) -- Russia and the United States have agreed to ensure the implementation of the Black Sea Initiative, provided that sanctions were eased on Russia's agricultural and food trade, the Kremlin said Tuesday.
The Kremlin said the agreement includes ensuring the safety of navigation in the Black Sea, the non-use of force, and preventing commercial ships from being used for military purposes, with inspections in place to enforce this.
It also added that the United States will help in restoring Russia's access to global markets for agricultural and fertilizer exports, lowering shipping insurance costs, and improving access to ports and international payment systems.
The agreement will enter into force after a series of sanctions and restrictions related to its agricultural and food trade were lifted, the Kremlin noted.
The move would include lifting Western sanctions on the Russian Agricultural Bank, which services agricultural businesses, and reconnecting the bank to the SWIFT international messaging system.
Russia has also listed in the conditions the removal of restrictions on its food and fertilizer producers and exporters, on the servicing of related Russian-flagged vessels in ports, and on the related agricultural machinery supplies to Russia.
The Kremlin statement came after Russian and U.S. representatives wrapped up their Monday's talks in Riyadh, capital of Saudi Arabia, where both sides sought arrangements for the safety of navigation in the Black Sea.
Russia and Ukraine signed separately with Türkiye and the United Nations the Black Sea Grain Initiative in Istanbul in July 2022, which secured the export of Ukrainian grain and other agricultural products from Black Sea ports.
As a parallel agreement, Russia and the UN signed a memorandum of understanding on the facilitation of Russian food and fertilizer exports.
On July 17, 2023, Russia suspended its participation in the Black Sea deal, citing unfulfilled commitments to the Russian part. Enditem
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