UN Helping Russian Bank With SWIFT Bypass

According to UN spokesman Stéphane Dujarric, the UN is assisting a Russian bank with a SWIFT bypass after it was disconnected as part of Ukraine-related sanctions last year.

The UN continues to work on ensuring that Russia’s requirements in the Black Sea grain deal are implemented, including the removal of obstacles for banking operations involving Russian agricultural exports, spokesman Stephane Dujarric said on Monday.

According to the official, the organization is aiming to facilitate transactions for Russian state agricultural lender Rosselkhozbank, which was disconnected from the SWIFT payment system as part of Ukraine-related sanctions last year. Dujarric said there is an opportunity for the bank to conduct business without SWIFT.

We will continue to do everything possible to secure [Russian agricultural] exports, including [transactions] through Rosselkhozbank,” Dujarric told reporters at a briefing, as quoted by TASS.

There are opportunities to conduct these transactions outside the SWIFT system. Obviously, it would be easier under SWIFT, but we will continue to engage with all our partners, including the EU, the UK, the US, Russia and others, to ensure supplies. The head of UNCTAD [the United Nations Conference on Trade and Development], Rebeca Greenspan, is extensively working on this,” he added.

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