In order for the Black Sea Initiative to be reinstated, Russia is insisting that Rosselkhozbank, a Russian bank, must regain access to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which is supervised by the European Union.

Source: https://www.euronews.com/my-europe/2025/03/26/russias-demand-for-sanctions-relief-thrusts-the-eu-into-the-talks-with-tough-choices