Russia wants the West to ease restrictions on state agriculture lender Rosselkhozbank to facilitate Russian grain exports, Report informs, referring to Reuters.
"Russia was asking Western countries to allow state lender Rosselkhozbank to restore its relations with correspondent banks despite Western sanctions," the sources familiar with the matter said.
This would allow the bank, which has not had a major role in the international grain trade so far, to process payments for Russian grain and other foodstuffs, two of the sources added.
A source in the UN explained that this initiative is being discussed with the European Union and other countries.
Moscow suspended its participation in the secure Black Sea grain corridor in late October but rejoined after four days, easing fears of further disruptions to grain exports from key supplier Ukraine at a time of rampant global food inflation.
Six bulk carriers with agricultural products left the Ukrainian ports after the 'grain corridor' resumed operations.