Pravda.ru, a newspaper that was formed after the split of the Soviet Union's oldest newspaper "Pravda," on Saturday boasted that many countries are supporting Russia despite the claims of "western propagandists."
The article says that a coalition of countries known as BRICS, which includes Brazil, India, China, and South Africa, are standing with Russia. However, according to the Economic Times of India, on Friday, the New Development Bank (NDB), which was formed was formed by the BRICS bloc, has put all new transactions in Russia on hold.
"In light of unfolding uncertainties and restrictions," a statement from the bank's website read, "NDB has put new transactions in Russia on hold. NDB will continue to conduct business in full conformity with the highest compliance standards as an international institution."
After listing off a litany of countries who did not support the sanctions, that included Argentina, Mexico, Turkey, Azerbaijan, Georgia and Moldova, the article goes on to say that, "if you look closely, most of the world just does not support the West in its fight against Russia. And it turns out that, declaring that 'the whole world' is with them, the US and the EU, to put it mildly, are hypocrites."
However, although no news sources can confirm if NDB is abiding by its statement, on Thursday, a day before NDB made its announcement, the Asian Infrastructure Investment Bank (AIIB) paused all its projects in Russia and its ally Belarus.
News of AIIB, headed by former Vice Minister of Finance for the People's Republic of China Jin Liqun, putting on hold all its Russian projects is noteworthy considering Russia is the bank's third-largest stakeholder.
"Our Bank is actively monitoring the situation and assessing its impact on AIIB's operations and our members' economies," the release reads.
"We the Management," the release continues, "will do our utmost to safeguard the financial integrity of AIIB, against the backdrop of the evolving economic and financial situation. Under these circumstances, and in the best interests of the Bank, Management has decided that all activities relating to Russia and Belarus are on hold and under review."
Explaining their decision, the bank says that "AIIB is a multilateral organization created by an international treaty, and adherence to international law lies at the very core of our institution."
"As the war in Ukraine unfolds, the Asian Infrastructure Investment Bank (AIIB) extends its thoughts and sympathy to everyone affected. Our hearts go out to all who are suffering," the release adds.
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