In a public statement on Fortune.com Russia’s government banned a charity founded by George Soros, the world-renowned hedge fund manager and democracy activist billionaire. The statement made the claim that the Open Society Foundation (OSF), which is directly supported by Mr. Soros’ contributions, is a security threat to Russia. They offered further condemnation by judging the OSF as an illegal organization that operates counter to the constitution of Russia, the foundation of the government.
Labeling the OSF as a foreign enterprise that is “undesirable” comes after many years of acceptance of the OSF by Russia. In fact, the OSF was praised for its support of Russian law and order, in the past, even by government officials. The Russians also equally blamed the Open Society Institute Assistance Foundation as an enemy of Russia’s national security.
“We are confident that this move is a temporary aberration; the aspirations of the Russian people for a better future cannot be suppressed and will ultimately succeed,” stated George Soros in response to Russia’s statement.
As a wealthy philanthropist and activist, Mr. Soros has done a great deal to help Ukraine. This includes his promotion of US help to the Ukraine which resulted in the $50 million in aid from the US. His goal is to help reduce the ability for Russia to flex its muscle over the Ukraine, again. This is actually what brought on what is really Putin’s attack on George Soros by ending any help his charity could continue to give. Mr. Soros had this to say in rebuttal: “Contrary to the Russian prosecutor’s allegations, the Open Society Foundations have, for more than a quarter-century, helped to strengthen the rule of law in Russia and protect the rights of all.”
George Soros has worked hard to promote freedom of personal expression and human rights in general for many years now. The 85 year old philanthropist seems likely to leave a legacy of working to improve the education level and overall health level of people in over 70 different countries of the world.
The truth is that Russia had praised the OSF for their good works there in the past. The change comes as a personal vendetta against Mr. Soros, never mind the detrimental affect on the citizenry. Mr. Soros started the OSF in 1979 when his hedge fund had reached the $100 million dollars of worth and his personal fortune was estimated at $25 million. Before that, he awarded the poorest South Africans with education scholarships during the apartheid era. This was reported in Russia Bans George Soros.