USA to Facilitate Russia's Access to Global Market

The Kremlin has released the key outcomes from the meeting of expert groups from Russia and the USA held in Riyadh. Notably, an agreement has been reached for Russia to partially reconnect to SWIFT.

It is stated that according to the agreements between the Presidents of Russia and the USA, the parties will ensure the implementation of the 'Black Sea Initiative.' This includes ensuring navigation safety in the Black Sea, a prohibition on the use of force, and preventing the use of commercial vessels for military purposes (initiating relevant measures to inspect such vessels).

'The USA will facilitate the restoration of the accessibility of Russian agricultural products and fertilizers to the global market, reduce the cost of maritime transport insurance, and expand access to ports and payment systems for the realization of such transactions,' the Kremlin's statement reads.

It is clarified that these agreements will come into effect when the following points are implemented:

• Restrictions on sanctions against Rosselkhozbanka and other financial organizations involved in international trade operations of food (including fishery products) and fertilizers will be lifted, allowing their connection to SWIFT and opening necessary correspondent accounts.
• Restrictions on trade financing operations will be removed.
• Sanctions against companies engaged in food (including fishery products) and fertilizer production and export will be lifted, as well as restrictions on insurance companies working with food (including fishery products) and fertilizer shipments.
• Sanctions against ships flying the Russian flag regarding port servicing and on those involved in the trade of food (including fishery products) and fertilizers will be removed.
• Restrictions on the supply of agricultural machinery, as well as food (including fishery products) and fertilizers produced in Russia, will be lifted.

Russia and the USA have agreed to take measures to implement the agreements made by the Presidents of the two countries regarding forbidding strikes on energy facilities of Russia and Ukraine for 30 days from March 18, 2025, with a possibility of extending the agreement or withdrawing if one of the parties fails to comply.

'Russia and the USA welcome the friendly efforts of third countries aimed at supporting the implementation of agreements in the energy and maritime sectors. Russia and the USA will continue to work towards achieving sustainable and lasting peace,' the statement concludes.