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Encryption of Russian agricultural banks for grain trade settlements

  • The Russian Agricultural Bank is responsible for the sanctions in the European Union and US sanctions since 2022.
  • The Agricultural Bank is preparing to escalate some measures, which puts encryption as a reliable source of liquidity.

The Russian Agricultural Bank is considering maintaining encryption tools as an alternative to traditional settlement methods to export more than 49.5 million tons of grains. This step will help merge the commodity market on digital assets, and to provide this state of use.

Russia is very active in terms of adopting encryption. The Agricultural Bank of Russia, a state -owned institution that provides credit for agricultural companies, has indicated the potential use of encryption to settle grains.

The first executive vice president of the bank, Irina Zakinina Mentioned About this measure at the time of the Russian grain forum, which managed to capture 1000 participants in Sochi.

I mentioned that we have confidence in the encrypted currencies that it can be a comfortable alternative tool and in the current scenario, we are with the Bank of Russia and all the stakeholders are looking for an opportunity to benefit from the encrypted currency tools for payments in the circulation of grains.

Penalties

The Russian Agricultural Bank is responsible to the European Union (European Union) and the United States Penalties Since 2022, this has been the consisting of the bank’s exclusion from the International Payment Network, the contract of all its assets in the European Union, and the prohibition of obtaining financial services from European institutions.

Removing all these sanctions was mandatory to conclude a proposed black deal, which allows Ukrainian pills throughout the common areas. Even the sanctions touched the ships carrying Russian pills to other markets, as they prevent more than 79 ships from entering European ports and obtaining services, according to the central bank data.

Some speculation stipulates that the agricultural bank is preparing to escalate these measures, which puts encryption as a reliable source of liquidity to buy grains. The move is likely to open the doors of the agricultural commodity market for encryption, and to place Russia as a party for the settlement of the following harvesting assets.

The following harvest is expected to touch 49.5 million tons of grains in exports and 42 million tons of wheat, as Russia is ranked first in the production of these pills.

The news of the encryption was highlighted today:

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