The bloc still hopes to "maximize pressure" on Moscow, a European Commission spokesperson has told the Financial Times

The EU will not fulfill Russia's demand to lift sanctions on the country's main agricultural bank as part of the Black Sea ceasefire initiative discussed between Moscow and Washington, European Commission Foreign Affairs spokeswoman Anitta Hipper has said.

During the talks between Russian and US experts in Riyadh on Monday, the sides agreed to move towards reviving the Black Sea Grain Initiative, which, according to the Kremlin, should include the removal of Western restrictions against Russian Agricultural Bank and other financial institutions involved in the international sale of food and fertilizers. The maritime ceasefire is seen by Moscow and Washington as a step towards settling the Ukraine conflict.

In her interview with the Financial Times on Wednesday, Hipper insisted that "the end of the Russian unprovoked and unjustified aggression in Ukraine and unconditional withdrawal of all Russian military forces from the entire territory of Ukraine would be one of the main preconditions to amend or lift sanctions."

"The EU's main focus remains to maximize pressure on Russia, using all tools available, including sanctions, to diminish Russia's ability to wage its war against Ukraine," she insisted.

US President Donald Trump confirmed on Tuesday that his administration is considering lifting some curbs against Moscow, saying that "there are about five or six conditions. We are looking at all of them."

Ukrainian leader Vladimir Zelensky claimed later that Kiev did not agree to the maritime truce due to it representing "a weakening of positions and a weakening of sanctions" against Russia.

The Black Sea Grain Initiative, originally brokered in July 2022 by the UN and Trkiye, envisioned the safe passage of Ukrainian agricultural products in exchange for the West lifting its restrictions on Russian grain and fertilizer exports. Moscow withdrew from the deal a year later, citing the West's failure to fold up its obligations.

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Kremlin spokesman Dmitry Peskov said on Wednesday that the maritime truce could take effect only once certain conditions set out by Russia are met. "Of course, this time justice must prevail, and we will continue our work with the Americans [on the Black Sea Initiative]," Peskov stressed.