3/20, 1:45 PM (Source: TeleTrader)
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Russia to suspend grain deal in May if terms not fulfilled

Russia's Foreign Ministry said on Monday that the country will suspend its participation in the grain deal with Ukraine on May 18 if there's no progress on implementing the Kremlin's terms by the West.

Among others, Russia's terms include reconnecting the Russian Agricultural Bank to the SWIFT international payment system, lifting the ban on port access by Russian ships, and release of the assets held by Russian agricultural companies.

The statement comes after Moscow confirmed over the weekend that the agreement, which allows exports of Ukrainian grain through ports in the Russia-controlled south, was extended by two more months.

Baha Breaking News (BBN) / ND