Two foundations sponsored by billionaire philanthropist George Soros have been banned from operating by Russian authorities who have claimed the foundations are a threat to national security. Constitutional issues have also been raised by Russian political figures over the operation of the Open Society Foundations and the Open Society Institute Foundations within Russia, according to Fortune. Both George Soros and those in high ranking positions within the foundations have questioned the reasons for the ban, which they believe could be linked to calls from Soros for a $50 billion aid package to be delivered to the Ukraine.
Soros has made a success of his financial career after surviving the Holocaust in Nazi Germany before studying finance in London. Eventually, the Hungarian born financial expert arrived in the U.S. to establish the hedge fund that would eventually make him a billionaire, according to the George Soros Website. George Soros has since become one of the most influential figures on Fortune.com in philanthropy on the planet, largely because of the global reach of his charitable programs.
By placing a ban on the work of the foundations in Russia the authorities have taken a different approach to the historical view of the work of George Soros in the country. The Open Society Foundations spokesperson explained the group has often been praised for the work it has completed in Russia over recent years. The push for a ban comes as President Vladimir Putin has been stepping up his efforts to extend the use of Russian force around the world, including the seizing of land in Ukraine. Soros himself has been critical of the invasion by Russian forces, and has explained how this has threatened the future of the European Union on numerous occasions.
People in more than 70 countries now benefit from the work of the group, which began as a educational program for young men suffering human rights abuses during South Africa’s apartheid regime. George Soros has sought to aid the future of people across the globe after he was subjected to a childhood spent in the concentration camps of Nazi Germany. The work of the Budapest born financial expert now seems to have pitted him against the authority of Russian President Vladimir Putin.