Russia says sanctions must be lifted before Ukraine maritime ceasefire can start

Russia has said some Western sanctions must be lifted before it begins a maritime ceasefire with Ukraine.

Within hours of the US announcing the two sides had agreed to halt strikes in the Black Sea in separate deals, the Kremlin said it would only take place once sanctions on a number of Russian banks were lifted.

The demands include revoking sanctions on the state agricultural bank Rosselkhozbank and restoring the firms’ access to the Swift international payment system.

Overnight, Moscow launched a drone attack on the port city of Mykolaiv, Ukrainian officials said, with President Volodymyr Zelensky saying the strikes were “a clear signal” Russia did not want peace.

After Russia’s full-scale invasion of Ukraine, the EU and its allies suspended access to Swift for a number of Russian financial institutions.

The aim was for Russian companies to lose access to the normal smooth and instant transactions provided by Swift, disrupting payments for its valuable energy and agricultural exports.

Reversing that decision would need EU approval, a step that would appear uncertain in light of recent European statements of support for Kyiv.

A European Commission spokesperson said the withdrawal of all Russian forces from Ukraine would be one of the main conditions to lift or amend any sanctions.

On Tuesday, US President Donald Trump said that Russia could be trying to delay ending the war.

“I think that Russia wants to see an end to it, but it could be they’re dragging their feet. I’ve done it over the years,” he said in an interview with Newsmax.

The maritime ceasefire was announced by the US after three days of peace talks in Saudi Arabia.

However Kyiv and Moscow later released conflicting statements on the details of the deal, including when and how it would start.

Zelensky said he believed the deal did not require sanctions relief to come into force and would take effect immediately.

He called the Kremlin’s statement an attempt to “manipulate” the deals.

After announcing the agreement on Tuesday, Washington said all parties would continue working toward a “durable and lasting peace”, adding that the agreement would reopen an important trade route.

Ukraine and Russia also committed to “develop measures” to implement a previously agreed ban on attacking each other’s energy infrastructure, the White House said.

The Black Sea is located south of Ukraine and to the west of Russia, and is also bordered by Romania, Bulgaria, Turkey, and Georgia.

It is also bordered by parts of Russian-occupied Ukraine – including Crimea.

It is a vital shipping route for Ukrainian exports, and after Russia pulled out of the Black Sea Grain Initiative in 2023, it said it would view any vessel bound for Ukraine as a potential military target.

As a result, Ukraine’s grain exports slumped.