U.S. President Joe Biden, who announced an initiative for assisting other nations to strengthen democracy, actually seeks to form a fund to interfere in the domestic affairs of other countries, Deputy Speaker of Russia's Federation Council Konstantin Kosachev wrote on social media on Saturday.

"At the recent summit, U.S. President Biden announced the launch of the Presidential Initiative for Democratic Renewal, which involves the allocation of $424 million to support countries loyal [to Washington]. It is already clear that in fact, a fund for interference in the internal affairs of disloyal states is being formed," Kosachev pointed out.

According to Kosachev, participants were chosen for the summit based on geopolitics. "It is foreign rather than domestic policy that was the focus. It was about being loyal to America," Kosachev stressed.