WB reportedly signals readiness to renew cooperation with Russia

The World Bank's leadership is signaling its willingness to resume full-fledged cooperation with Russia if the international political environment changes, according to Roman Marshavin, the Executive Director of the WB representing Russia.

Marking the 80th anniversary of the Bretton Woods Conference, Marshavin highlighted the bank's ongoing engagement with Russia, Caliber.Az reports per foreign media.

Marshavin pointed out that with the appointment of former World Bank President David Malpass and the support of Maksim Oreshkin, then Russia’s economic development minister, relations between Russia and the WB had significantly improved.

"This is why we should not give up now as well since sooner or later common sense will prevail, especially as the majority of global tasks are not solved without Russia’s participation. Those also include the issues of climate change, food and energy security, tackling pandemics, and more. The leadership of the bank understands it and continues sending signals to us about readiness to resume full-fledged cooperation in the event of a changed foreign political environment," Marshavin said.

He also emphasized that the WB does not recognize the sanctions imposed on Russia by Western countries, allowing Russian companies to continue their cooperation with the institution.

"I should also note that our business should not be afraid of sanctions imposed by Western countries as the WB only acknowledges sanctions by the UN Security Council, meaning it does not acknowledge any unilateral sanctions imposed against Russian companies," Marshavin stressed.