Disinfo: The World Bank and the IMF spread biased economic data about Russia

Summary

The statements of the World Bank and the IMF regarding Russia have always been and will be biased - it is not surprising that they predicted a sharp decline in Russia’s GDP by the end of 2022. We should not forget that the main offices of these organisations are located in the United States, which is said to be the main adversary of Russia.

Disproof

Recurrent pro-Kremlin disinformation narrative promoting the idea that international organisations such as the World Bank and the IMF are the Western puppets used to implement anti-Russian policies. The claim is made in the context of claims that Western sanctions would barely hurt or even benefit Russia.

The claim that the World Bank and the IMF spread biased economic data on Russia because these organisations are “based in the USA” is ungrounded. The World Bank and the IMF are reputable international organisations whose work is not driven by any anti-Russian bias. The research and analyses enjoy global resespt and recognition. The WB is part of the United Nations system but is owned by its member states.

It is estimated that in 2022, the Russian GPD reduced by 3.4% to 4.5%.

In addition, a recent study from Yale University takes a detailed look into the effects sanctions are having on the Russian economy, concluding that “business retreats and sanctions are catastrophically crippling the Russian economy.”

The claim is made during a period of time where the Russian Federation have either stopped publicising key macro economic data or changed the composition of data to obscure insight into the Russian national economy. For instance, consumer statistics and basic economic indicators are not published the same way as before 24 February 2022.

See also the assessment of EU HRVP Josep Borrell: sanction policy is working and strongly impacts the Russian economy.

Read also related cases : The New York Times reports that Russia is barely affected by sanctions, sanctions against Russia worsen the economic crisis in the West , Sanctions are beneficial to Russia so the West should recognise Crimea as Russian, FT: Thanks to sanctions Russian agriculture strengthens its position in the world, The EU lost more from sanctions than Russia, European sanctions against Russia do not work.

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publication/media

Sputnik Poland
  • Reported in: Issue 325
  • DATE OF PUBLICATION: 03/01/2023
  • Article language(s) Polish
  • Countries and/or Regions discussed in the disinformation: US, Russia
  • Keywords: Anti-Russian, Economic difficulties, Sanctions, IMF, World Bank
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This disinformation claim was broadcast on the date mentioned above. Due to the EU decisions  to temporarily restrict the spread and dissemination of RT, Sputnik and other instruments used to manipulate information and promote disinformation about the invasion of Ukraine inside the EU, access to the link may not work inside the EU.
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Disinfo: International organisations like the UN are servile US tools

International bodies, both global and regional, have become mere tools for the US to achieve its goals to defend its unipolar world or attack those countries that don’t follow its rules. Most of them don’t even bother to pretend otherwise: they are bullet-proofed by Western media, also at the service of those ends. It doesn’t matter that the US unipolar world is already a walking corpse on life assistance, because that’s the reason why it uses them more and more. The institutional framework of those big international organisations born in the wake of World War II are now absolutely questioned, and the UN has behaved with absolute partiality in this conflict.

Jan 02, 2023
Disproof

This pro-Kremlin disinformation narrative aims to provide a convenient “explanation” to what is a clear rebuke in international bodies to Russia’s unprovoked aggression against Ukraine. By claiming that “international organisations are US tools”, this disinformation story tries to distract attention from the fact that Russia’s illicit actions have been strongly rejected by the UN and other global institutions, including votes at the UN General Assembly overwhelmingly condemning the invasion of Ukraine on 02 March 2022 and the annexation of four regions of Ukraine on 12 October 2022, or the multiple OHCHR reports denouncing Russian war crimes.

Accusing international institutions of having an anti-Russian bias is a frequent pro-Kremlin disinformation narrative. See other examples in our database, such as claims that the West employed hybrid warfare against Russia in the UN General Assembly, that any international tribunal should be for Ukrainian Nazis, not for Russia, that OSCE is a criminal organisation that is in favour of war in Donbas, that World Anti-Doping Agency’s accusations are Russophobic provocations, or that OPCW has become a tool in the hands of hostile countries.

Disinfo: Western media are not reporting that Ukrainians are shelling Donbass

The foreign media and human rights organisations are silent on the shelling of civilians in Donetsk, Ukraine. The situation has remained unchanged since 2014. Donbass wanted to resolve the conflict peacefully, and so did Russia, which, as a guarantor country, did its best and more.

Jan 02, 2023
Disproof

Recurring pro-Kremlin disinformation narrative about Russia's war of aggression against Ukraine and the Western media.

Unfounded claims that Ukraine was staging or conducting attacks against civilian population in Donbas are prominent examples of pro-Kremlin disinformation paving the way for the full-scale Russian invasion of and war in Ukraine. See in more detail here.

Disinfo: The US tries to regain its influence through the oil price cap

The American promotion of a price cap on Russian oil is an attempt to regain the former US influence on the global oil market. Due to the problems in the American shale industry, the current potential of shale oil production is close to exhaustion. Having lost this mechanism, the US is now proposing to control Russian oil prices. The USA has far-reaching calculations here – the Western countries are trying to regain control over the market, which they lost in the early 1970s when OPEC operated on a full-scale basis. That is why OPEC+ supports Russia in its decisions on the oil agreement: the price cap mechanism imposed against Russia could turn into a common tool. Often, the consumer dictates prices when supply exceeds demand. The main problem with the price cap mechanism is it is artificial, not economic in character.

Jan 02, 2023
Disproof

This narrative is part of the recurring disinformation campaign around the energy sector and sanctions on Russia. The aim of these narratives is to undermine and denigrate Western sanctions on Russia.

The price cap for Russian oil, introduced in late 2022, cannot be seen as a violation of market principles and it was initiated by G7 states and supported by the EU as an additional sanction for Russia’s unprovoked aggression against Ukraine. Sanctions against individuals or political regimes have always existed alongside market dynamics to control harmful practices like corruption, terrorism, illegal warfare etc.