European Union officials are considering restricting Russian influence and the country’s access to funding from the International Monetary Fund following the invasion of Ukraine, six officials told Reuters.
One option under consideration is to remove Russia entirely from the lender of last resort, officials said, although some noted that this would be difficult, if not impossible.
Other options under consideration include suspending Moscow’s voting rights as well as blocking its access to the IMF’s special currency, Special Drawing Rights (SDRs), the officials said.
However, expelling Russia from the IMF entirely may not be legally possible, one official said.
“The consensual legal reading is that it cannot be done. Even for members guilty of genocide it was not done, because it would require proof of a legal violation of the IMF agreement, so it is very unlikely,” she said.
Asked when the talks could reach a conclusion, another official said the issue was urgent, but some other members of the IMF, which groups 190 countries, may object.
An IMF spokesperson did not immediately respond to requests for comment.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
