Russia in Key International Institutions

Abstract

The whole complex of pandemic, economic, and social crises has become a kind of a stress test for the system of multilateral cooperation as it is weakened by geopolitical conflicts, contradictions between the key members and growing mistrust due to stalled reforms of international organizations and their inability to cope with a host of global issues. Even prior to the pandemic outbreak, 2020 did not promise to be easy. Deepening inequality, deceleration of economic growth, acceleration of climate change, fiercer competition for digital technologies, and the fragmentation of cyberspace demanded joint efforts at the regional and global levels. The human toll, contraction of GDP by 5.2%, a 13% drop in trade, a 60% plunge in oil prices,4 and a loss of an equivalent of 495 mn of full time jobs5 have aggravated long-term challenges by simultaneously casting aside cooperation to overcome them. In this context, it was paramount to balance the urgent agenda and long-term objectives.