The situation now being discussed will also increase pressure on the Russian economy and financial system and serve as an important symbolic step in deepening Moscow’s international isolation. One option to consider is the complete removal of Russia from the company that will act as the final lender, officials said, adding that “this will be difficult, otherwise impossible.”
“There is a debate. Russia’s total layoffs may be unreliable due to forced allocation,” said a senior EU official, citing widespread support for countries including China. Officials said additional options were being explored, including suspending Russia’s suffrage and blocking access to the IMF’s special currency.
An IMF spokesman has not yet commented. Russia has been economically isolated since Russian forces invaded Ukraine, the largest attack on a European state since World War II.
Restricting access to the IMF as war in Ukraine enters its second week may be part of another round of sanctions. Russia has already been hit by the freezing of central bank assets, the EU, Canadian and US airstrikes and the removal of several banks from the SWIFT international tariff system.
The United States and the European Union are now worried that Moscow, which has been cut off from $ 630 billion in reserves, could access the $ 17 billion IMF reserves it received last year when the IMF encouraged it to fight the Covit-19 epidemic.
Here is a review of the portfolio of Russia’s economic outlook:
Cover image: Getty Images
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