Russia appoints US-sanctioned adviser as IMF representative

Russia has appointed Ksenia Yudaeva, who is under US sanctions for being an adviser to the Russian Central Bank, as its new representative to the executive board of the International Monetary Fund (IMF), the current holder of the position told AFP on Tuesday (3).

“Ksenia will become the IMF’s managing director for Russia from November 1,” said Alexei Mozhin, who has held the position since 1996.

When asked by AFP, the IMF did not confirm the information, which was initially released by Russian news agencies Tass and RIA.

Ksenia has been working as an advisor to the head of the Central Bank of Russia, Elvira Nabiullina, since August 2023. She was hit by the first round of sanctions imposed by Washington after the start of Russia’s invasion of Ukraine.

Ksenia’s inclusion on the list was due to her roles in both the Russian central bank and the Otkritie financial institution, according to the US State Department.

Theoretically, the sanctions prohibit those affected from entering US territory, despite the IMF headquarters being located in Washington.

The sanctions also provide for the freezing of all assets that those affected have, directly or indirectly, in the United States, and the prohibition of carrying out commercial or financial transactions with American companies or citizens.