Russia says JPMorgan stops processing its grain payments

U.S. bank JPMorgan this week stopped processing payments for the Russian Agricultural Bank, Russia said on Friday, as it demanded action, not promises, from Washington to help Russian grain and fertilizer reach global markets.
JPMorgan had handled some Russian grain export payments for the past few months with reassurances from Washington. However, that cooperation stopped this week, Russia’s Foreign Ministry said on Friday.
“The direct channel between the Russian Agricultural Bank and JPMorgan … was closed on Aug. 2,” foreign ministry spokeswoman Maria Zakharova was quoted by Russian media as saying.
The United Nations, the U.S. State Department and JPMorgan declined to comment.