EU weighs concession to Russian bank over Black Sea grain deal -FT

FILE PHOTO: Amfitriti, a bulk carrier part of the Black Sea grain deal, and other commercial vessels wait to pass the Bosphorus strait off the shores of Yenikapi in Istanbul, Turkey, May 10, 2023. REUTERS/Mehmet Emin Caliskan/File Photo

(Reuters) -The European Union is considering a proposal for Russian Agricultural Bank to set up a subsidiary to reconnect to the global financial network as a sop to Moscow, the Financial Times said on Monday.

With the bank, also known as Rosselkhozbank, under sanctions, the move aims to safeguard the Black Sea grain deal that lets Ukraine export food to global markets, the newspaper said.