The European Union will not fulfil Russia’s demand to lift sanctions on the country’s main agricultural bank as part of the Black Sea ceasefire discussed between Moscow and Washington, said EU Commission foreign affairs spokesperson Anitta Hipper.
During negotiations between Russian and US experts in Riyadh on Monday, both sides agreed to move towards reviving the Black Sea grain initiative, which, according to Moscow, should include the removal of Western restrictions against Russia's agricultural bank and other financial institutions involved in the international sale of food and fertilisers.
The maritime ceasefire is viewed by both Moscow and Washington as a step towards ending the war in Ukraine.
In a recent interview, Hipper insisted that “the end of Russia’s unprovoked and unjustified aggression in Ukraine and the unconditional withdrawal of all Russian military forces from the entire territory of Ukraine would be one of the main preconditions to amend or lift sanctions.”
“The EU’s main focus remains on maximising pressure on Russia, using all available tools, including sanctions, to diminish Russia’s ability to wage war against Ukraine,” she said.
US President Donald Trump confirmed on Tuesday that his administration is considering lifting some curbs against Moscow, saying that “there are about five or six conditions. We are looking at all of them.”
While this was discussed and debated by the two global powers in Riyadh, Kyiv responded by refusing to agree to a maritime truce, arguing that it would represent “a weakening of positions and a weakening of sanctions” against Russia.
Additionally, Kremlin spokesman Dmitry Peskov said on Wednesday that the maritime truce could take effect only once certain conditions set out by Russia are met.
“Of course, this time, justice must prevail, and we will continue our work with the Americans on the Black Sea Initiative,” Peskov added.
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