Vatican Bank denies receiving funds from Russia

After a close aide to Ukrainian President Volodymyr Zelenskyy accused Pope Francis of being a Russophile, and the Vatican of receiving Russian funds, the Catholic Church issued a statement denying the accusations on Sunday (Sept 10).

“The IOR does not receive or invest money from Russia,” read a statement by the Institute for Religious Works, using the Italian acronym IOR for the institution more commonly referred to as the Vatican Bank. “The IOR strongly rejects the allegations of the Councillor, according to whom the IOR would be investing Russian money.”

The Vatican Bank insisted the institute only provides financial services to Catholic organisations and that it is held to the highest possible international standards.

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