WASHINGTON, September 5. /TASS/. The Open Society Foundations (deemed undesirable in Russia), founded by Hungary-born US billionaire fund manager George Soros, is shrinking its footprint in Europe to shift its focus to the Global South, authoritative US magazine Foreign Policy reported.

According to the journal, the foundation is now in the process of transferring its projects and operations to various countries in the Global South. Foreign Policy pointed out that this move is likely the initiative of the foundation’s new chairman and son of the founder, Alexander Soros.

The magazine noted that the reduction in the Open Society Foundations’ activities in Europe is an indication that the organization is facing problems. Staff members have repeatedly complained that the organization's program resembles "a chaotic hodgepodge of George’s latest whims and fancies."

Reuters reported in August that the Open Society Foundations was scaling back its activities in Europe. Founded in the United States in 1979, the foundation has since become an umbrella network of similar organizations that ostensibly are engaged in initiating and supporting humanitarian programs and projects. In January 2023, however, Russian Security Council Secretary Nikolay Patrushev slammed the Soros Foundation as "the main global center for the implementation of color revolutions," pointing out additionally that dozens of members of the European Parliament are effectively controlled by the foundation’s structures.