US Secretary of State Marco Rubio on Wednesday indicated that lifting specific EU sanctions is one of Russia's conditions for a Black sea truce. Moscow is also eyeing access to 'SWIFT' - the international banking system.

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Rubio said, "The Russians detailed several conditions that they want to see met in order to reach a ceasefire in the Black sea." He added, "So we're going to evaluate that. Some of those conditions include sanctions that are not ours; they belong to the European Union."

Following a proposal by Washington, the Kremlin made many conditions for a Black sea ceasefire during a second round of negotiations between US and Russian delegates in Riyadh on March 25.

Russian agriculture bank Rossel Khozbank and "Other financial institutions involved in international trade in food and fertilisers" were to have sanctions lifted, along with producers, exporters, and ships of food and fertiliser from Russia.

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Moscow's conditions also include access to the SWIFT international banking system registered in Belgium.

Eu says full withdrawal must first

However, European Commission spokesman Anitta Hipper said the "Unconditional withdrawal" of all Russian soldiers from Ukrainian land is a crucial requirement for the EU. To relax or lift sanctions on Moscow.

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US Treasury Secretary Scott Bessent said reconnecting Russian banks to SWIFT would be contingent upon Moscow's actions. Bessent said, "It will be determined by the Russian leadership's next moves, whether the sanctions go up or down." He added, "President Trump, I think, would not hesitate to raise sanctions if it gives him a negotiating advantage."

(With inputs from the agencies)