IMF halts wartime Russia review after criticism from EU nations

The International Monetary Fund (IMF) indefinitely postponed its first planned consultations with Russia since the start of President Vladimir Putin’s invasion of Ukraine, amid criticism from European Union states, the Tass news service reported.

Fund officials notified Russia and the IMF’s board that the mission was being delayed for “technical” reasons, Tass reported Wednesday, citing Aleksei Mozhin, the executive director for Russia at the Washington-based lender.

Russian officials are well aware that European states opposed the resumption of cooperation between the IMF and Moscow, Tass cited Mozhin as saying.

The IMF had been due to hold online talks with Russian counterparts on Monday as part of the so-called Article IV review ahead of a planned visit to Moscow to meet with government and central bank officials. The last IMF mission to Russia was in 2019.

Several EU nations challenged the IMF’s decision to engage with Russia, arguing that it risked being seen as legitimizing Kremlin efforts to evade sanctions imposed since the February 2022 war began. Some also warned that Russia would use the visit as propaganda to show its international isolation was easing.

The IMF press office didn’t immediately respond when contacted after normal business hours in Washington for comment.