Russia reaches breakthrough agreement with USA in Saudi Arabia – Kremlin statement

During the talks in Saudi Arabia, Russia and the US agreed to implement the Black Sea Initiative, which ensures maritime security and prohibits the use of force in the Black Sea region. The joint statement from the Russian and American delegations was published on the Kremlin's official Telegram channel. 

Photo: commons.wikimedia.org by Takumiitinose, https://creativecommons.org/licenses/by-sa/4.0/

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Notably, the US-Russia agreements on ensuring safe navigation in the Black Sea and restoring Russian agricultural exports to global markets will take effect only after sanctions are lifted from Rosselkhozbank and other banks involved in food trade transactions, according to a Kremlin statement following negotiations in Riyadh.

More from the Kremlin about negotiations with USA in Riyadh: 

In accordance with the agreement between the Presidents of Russia and the United States, both sides have committed to ensuring the implementation of the "Black Sea Initiative," which includes:

• Maritime security in the Black Sea,
• The prohibition of force, and
• The prevention of the use of commercial vessels for military purposes,
  with appropriate inspection measures in place to enforce compliance.

The United States will facilitate:

1. The restoration of Russian agricultural and fertilizer exports to global markets,
2. The reduction of maritime shipping insurance costs,
3. The expansion of access to ports and payment systems for such transactions.
   Implementation Conditions:

Points 1 and 2 will take effect only after:

• Sanctions are lifted from Rosselkhozbank and other financial institutions involved in international food and fertilizer trade (including seafood), their reconnection to SWIFT, and the opening of necessary correspondent accounts;
• Restrictions on trade finance transactions are removed;
• Sanctions on Russian food and fertilizer producers and exporters (including seafood) are lifted, along with restrictions on insurance companies handling such cargoes;
• Port service restrictions and sanctions on Russian-flagged vessels engaged in food and fertilizer trade are removed;
• Restrictions on the supply of agricultural equipment and other goods essential for food and fertilizer production (including seafood) to Russia are lifted.

Russia and the US have agreed to develop measures for implementing the presidential agreement to ban strikes on Russian and Ukrainian energy infrastructure for 30 days starting March 18, 2025, with the possibility of extension or withdrawal if either side fails to comply.

Both nations welcome the involvement of third-party countries in supporting the implementation of agreements in the energy and maritime sectors.

Russia and the US will continue efforts to achieve a stable and lasting peace.