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Reuters: EU to amend sanctions on Russian banks to allow food, fertilizer exports

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The EU will announce the unfreezing of some funds of top Russian banks to ease global food and fertilizer trade on July 20, reports Reuters, citing a draft document. Affected banks include VTB Bank, Sovcombank, Novikombank, Otkritie FC Bank, VEB, Promsvyazbank, and Bank Rossiya. New, separate sanctions to be announced on July 20 will freeze the assets of Sberbank, except for its resources required for food trade, an EU official told Reuters. The decision was made amid growing criticism from African leaders on the negative effects of sanctions on global trade, exacerbated by Russia’s war on Ukraine and its blockade of Ukrainian ports.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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Liberated in 2022, Kherson is still under daily attack from Russian forces across the Dnipro River. The Kyiv Independent’s Francis Farrell and Olena Zashko report from a city living under anti-drone nets and constant surveillance, showing how everyday life, from hospitals and schools to aid deliveries and cultural events, continues under threat, and why residents refuse to leave.

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