Banca March | This weekend’s negotiations in Riyadh have borne fruit. Ukraine and Russia announced on Tuesday that they had finalised the ceasefire agreement on energy infrastructures, to which a truce in hostilities in the Black Sea has been added, which would allow for the streamlining and securing of greater maritime traffic of agricultural products and fertilisers. However, the terms of the agreement are not entirely clear and the Russian side has made the lifting of restrictions on trade in these products a condition for implementing the ceasefire. This would de facto mean the lifting of sanctions on Russian banks specialising in agricultural exports, their return to the SWIFT payment system and the elimination of limitations on the import of agricultural machinery. These conditions would need the approval of the European Union, the main executor of these restrictions.
The first talks are proving tense, but are making some progress. Trump’s delegation aims to reach a peace agreement on 20 April, according to unofficial sources.
