(Reuters) – Russia’s Sberbank stated Tuesday that Indian Potash Ltd. (IPL), and Belarusian Potash Company. It denied being responsible for preventing payments.

IPL opened a rupee account at Sberbank’s New Delhi branch on February 1st. This was in response to the Belarusian company. The US sanctions have been steadily increasing against Minsk, since the 2020 elections and crackdowns on protests.

Two people who were familiar with the matter and a letter seen in Reuters claim that the Indian company complained about Sberbank’s conversion of a small fraction of the rupees it paid into roubles. Both companies reached an agreement that IPL would instead pay for Belarussian potassium in rupees than in dollars.

Sources told Reuters Monday that Sberbank has not yet replied to the letter dated May 23, according to one of them.

“The information you have provided is incorrect. Sberbank wrote to Reuters on Tuesday, stating that both the seller and buyer had held discussions about the details of the settlements. “The buyer and seller have made no claims to the bank, or paid any unfulfilled payment.

Russian news agency RIA, citing a source who is “familiar” with the situation, stated Tuesday that the parties could not agree on the payment of fees for money transfers.