A sanctioned central banker is to represent Russia on the board of the Washington-based International Monetary Fund, the current holder of the post said on Tuesday.
Ksenia Yudaeva is the former first deputy governor at Russia’s Central Bank and a current adviser to its Governor Elvira Nabiullina.
“Yes, I confirm. From November 1 Ksenia will be the Russian Executive Director at the IMF,” said Aleksei Mozhin in an email to AFP, confirming reports by the Russian news agencies TASS and RIA.
Mozhin has been in the post since 1996, making him the longest-serving member of the Fund’s Executive Board.
Yudaeva was hit by the first series of sanctions put in place by Washington on April 20, 2022, two months after the start of Russia’s invasion of Ukraine.
Yudaeva joined the Bank of Russia at the same time as Nabiullina in 2013 and served as first deputy governor until August 2023, when she made the switch to Nabiullina’s adviser.
Russia’s finance ministry confirmed that Yudaeva had been nominated for the post, TASS reported.
Her inclusion on the U.S. sanctions list is due to her functions at both the Russian Central Bank and the Otkritie commercial bank, according to the State Department.
In theory, the U.S. sanctions prohibit the persons concerned from entering U.S. territory, even though the IMF’s headquarters are located in the federal capital of Washington.
They also freeze all assets held, directly or indirectly, by the persons concerned in the United States, as well as a ban on any American company or citizen carrying out commercial or financial transactions with them.
