OREANDA-NEWS A group of Communist Party deputies led by the faction leader Gennady Zyuganov submitted to the State Duma a bill on Russia's withdrawal from the agreement on joining the International Monetary Fund (IMF). The document was published in the Duma electronic database on Friday.

"To denounce the protocol on the entry of the Russian Federation into the membership of the International Monetary Fund, the International Bank for Reconstruction and Development and the International Development Association, signed in Washington in October 1992," the document says.

The project developers believe that it makes no sense for Russia to continue participating in the IMF. "Russia's stay at the IMF did not help prevent the adoption of sanctions (unilateral economic measures) against Russia, which clearly contradict the main goals and principles of this organization," the authors point out in the explanatory materials.

With the second bill, the Communists proposed suspending "the operation of the most-favored-nation regime in relation to services originating from states that have suspended or canceled the most-favored-nation regime for Russian services," the explanatory materials indicate.