The Kremlin announced on Tuesday that Moscow has agreed to guarantee safe navigation in Black Sea provided Western sanctions against companies exporting food and fertilizer are lifted.

The United States and Russia have also agreed on measures to stop strikes against Russian and Ukrainian energy installations for 30 days, starting on 18 March.

The Kremlin confirmed that the U.S. had agreed to help restore Russia's exports of agricultural products and fertilizers to the global market, but set out a few conditions.

The agreement said that in order to implement both parts, Western sanctions against Rosselkhozbank (which services agricultural firms) and its access to SWIFT's international messaging system would need to be lifted.

It said that sanctions on Russian exporters of food and fertiliser, insurance companies, firms servicing food and shipments, and restrictions on vessels, as well as trade finance operations would also have to be lifted. Reporting by Marina Bobrova, Maxim Rodionov and Gleb Bryanski; Writing by Hugh Lawson, Alison Williams and Hugh Lawson.

(source: Reuters)