Ukraine demands termination of Russia's and Belarus' membership in IMF, all WB organizations

Ukraine demands termination of Russia's and Belarus' membership in the IMF and all World Bank Group organizations.

"I have just signed an official appeal to the United States, Canada, Great Britain, Germany, France, Italy, and Japan with a request to terminate the membership of Russia and Belarus in the International Monetary Fund and all World Bank Group organizations. These two countries have violated their commitments and channeled their policies into war," Prime Minister of Ukraine Denys Shmyhal posted on Telegram, Ukrinform reports.

He noted that Ukraine made clear arguments and referred to numerous articles of the Agreement with the IMF and the Articles of Agreement of the International Bank for Reconstruction and Development, which were neglected by Russia and Belarus.

"No action contradicts the obligation to maintain stability and orderly economic conditions more than war. That is why the IMF gives member states the right to respond appropriately to the situation and defend their mandate. We ask G7 countries to provide support in initiating and implementing the procedure for suspending the operations of the IMF and the World Bank Group with Russia and Belarus and terminating their membership in these organizations," the Ukrainian Head of Government wrote.

On February 24, Russian president Vladimir Putin announced the beginning of the invasion of Ukraine. Russian troops are shelling and destroying key infrastructure, conducting massive shelling of Ukrainian towns and villages using artillery, multiple rocket launcher systems, and ballistic missiles.

Martial law was imposed in Ukraine and general mobilization was announced.

Ukraine officially filed a lawsuit against the Russian Federation at the UN International Court of Justice in The Hague. International Criminal Court Prosecutor Karim Khan launched an investigation into the situation in Ukraine.

ol