US Asked JPMorgan to Keep Processing Russian Grain Payments Before Bank Halted Them

Washington urged JPMorgan to be patient before the bank stopped processing payments for Moscow after Russia quit the Ukraine grain deal.

JPMorgan handled some Russian grain payments with reassurances from Washington, but that cooperation ended in early August.

The U.S. said if Russia showed signs of rejoining the deal, it would be easier to maintain the payment system.

JPMorgan made a commercial decision based on business and reputation factors, not because there was money to be made.

The U.N. chief said Russia's bombardment of Ukraine is undermining efforts to facilitate Russian food and fertilizer exports.