Establishing sustainable payments mechanisms for mutual trade is among the key issues for the BRICS group of nations to discuss at their summit next month, the Russian Foreign Ministry told RT on Friday.

The West should “re-SWIFT” Russia’s major agriculture lender, Deputy Foreign Minister Sergey Vershinin has said The Black Sea grain deal could be resumed if Russia’s major agriculture lender, Rosselkhozbank, is reconnected to the SWIFT international payments system, Deputy Foreign Minister Sergey Vershinin told reporters on Friday.

Food price inflation may soar now that the Ukrainian grain deal has been terminated, a spokesman says The International Monetary Fund (IMF) on Wednesday warned that the termination of the Black Sea grain deal threatens to exacerbate global food insecurity and cause prices to surge, especially in poorer countries.