The Soviet Union finally refused to join the organization and the World Bank. This makes the adjustment scope of Bretton Woods monetary system mainly limited to capitalist countries. However, because the Soviet Union's foreign economic activities account for a small proportion in the whole world economy, the Soviet Union's refusal to join does not affect the central position of the Bretton Woods system as an international monetary system. Although China is a socialist country, it must be integrated into the capitalist world economic system.

The United States initially planned a world-wide international monetary system after the war, and regarded this monetary system as an important part of maintaining cooperation with the Soviet Union after the war. Shortly after the White Plan was put forward, Hull put forward a memorandum at the meeting of foreign ministers of the United States, Britain and the Soviet Union in Moscow in June 1943, suggesting that the United States, Britain, the Soviet Union, China, Canada, Norway and Brazil form an expert committee to study international economic cooperation, promote non-discriminatory trade and rebuild a stable and free exchange rate. In order to win the cooperation of the Soviet Union, White himself proposed in March 1944 to give the Soviet Union a preferential loan of $5 billion. He believes that this will provide a good foundation for the continued cooperation between the US and Soviet governments after the war. Before the Bretton Woods Conference, the United States also promised to increase the share of the Soviet Union in the "fund" to $6,543.802 billion to reflect the economic strength of the Soviet Union.

The Soviet government appreciated Hull's memorandum and expressed interest in establishing a "fund" and the World Bank. 1On April 20, 944, Molotov said that although the Soviet government had different views on the IMF and held objections on a series of issues, it still agreed to appoint experts to continue discussions with the United States in Washington. As the initiator of the International Monetary Fund, the Soviet Union sent a delegation to the Bretton Woods Conference, and also agreed to undertake and subscribe for the capital share of the Fund and the World Bank, but ultimately failed to ratify the Bretton Woods Agreement. The Soviet government believes that the United States will use these two institutions to control and infiltrate the Soviet Union and eastern European countries after the war, and is even more worried that the provisions in the "fund" on canceling currency control, fixing the ruble exchange rate and exchanging economic information will damage the national sovereignty of the Soviet Union.