Russian President Vladimir Putin.Sasha Mordovets/Getty Images The EU wants to reconnect a sanctioned Russian bank to the global financial system. The bloc is trying to secure Putin's support to extend the Black Sea grain deal, which expires shortly. The deal allowed the export of Ukraine's food products from its ports amid a blockade by Russia. The global food supply crisis has gotten so bad that the EU wants to reconnect a sanctioned Russian bank to the global financial system — a link severed when the country invaded Ukraine last year — the Financial Times reported on Monday, citing five knowledge of the discussions.The concession wants to let the state-owned Russian Agricultural Bank handle payments related to grain exports.Under the proposal — initiated by Moscow and brokered by the United Nations — a new subsidiary of the bank would also be allowed to use SWIFT, the global messaging system, which some Russian banks were banned from using following the country's invasion of Ukraine, per the FT.The proposal to let the Russian bank access the global financial system is "the least worst option" to secure Russian President Vladimir Putin's support for an extension of the Black Sea grain deal that expires on July 18 this year, two sources told the FT.