Russia’s conditions for a ceasefire in the Black Sea include lifting certain European Union sanctions, U.S. Secretary of State Marco Rubio said Wednesday during a press conference with Jamaican Prime Minister Andrew Holness.
“After our meeting […] the Russians detailed a number of conditions that they want to see met in order to [reach a ceasefire in the Black Sea],” Rubio said. “So we're going to evaluate that. Some of those conditions include sanctions that are not ours, they belong to the European Union.”
The SWIFT international banking system is registered in Belgium. On March 26, European Commission spokesperson Anitta Hipper said that one of the key preconditions for easing or lifting E.U. sanctions is the “unconditional withdrawal” of all Russian forces from Ukrainian territory.
Following a second round of talks between U.S. and Russian delegations in Riyadh on March 25, the Kremlin put forward a number of demands for a Black Sea ceasefire — a proposal initiated by Washington. Among the conditions were lifting sanctions on Rosselkhozbank (the Russian Agriculture Bank) and “other financial institutions involved in international trade in food and fertilizers,” as well as lifting sanctions on Russian food and fertilizer producers, exporters, and the ships that transport those goods.
On March 26, U.S. Treasury Secretary Scott Bessent said any move to reconnect Russian banks to SWIFT would depend on Moscow’s actions. “It will be determined by Russian leadership’s next moves, whether the sanctions go up or down,” he said. “And President Trump, I think, would not hesitate to raise sanctions if it gives him a negotiating advantage.”
### The U.S. held separate talks with Ukraine and Russia in Saudi Arabia. Here’s what came out of them, according to Washington and Moscow.### The U.S. held separate talks with Ukraine and Russia in Saudi Arabia. Here’s what came out of them, according to Washington and Moscow.