The US and Russia are two of the world’s largest financial services platforms, each with more than half of global revenues.
The US is the biggest by revenue and Russia the second largest.
But their influence has grown in recent years.
The Washington Post reported last week that Russian state media outlets were spreading stories in 2016 that they claimed were about US President Donald Trump.
US intelligence agencies, however, said the articles were not about the president.
Russia’s state-run RIA news agency said in April that US spy agencies were involved in fake news, and said they were likely using the internet to disseminate it.
Russian state-owned broadcaster RT was one of the biggest players in the fake news business.
The Kremlin is pushing for stricter laws to clamp down on the spread of fake news on social media platforms, and RT and other foreign outlets have been subject to accusations of colluding with the US government to manipulate the internet.
And in February, Russian state television accused the US of attempting to discredit the media.
US officials deny that.
“We are constantly working to counter Russian propaganda, and we will continue to do so as long as we have the opportunity to do it,” US Deputy National Security Adviser Mark Toner said at a news briefing on February 22.
He added that Russia is the main player in the media space.
“Russia is not only the dominant player in this space but it is the one that dominates the internet, as well as the one who is most active in trying to influence the narrative through the manipulation of social media.”
Russian state TV has been accused of being behind several fake news stories last year.
Russia has repeatedly accused the West of trying to undermine its national interests.
But a closer look at the internet and fake-news on social networks suggests Russia has long played a central role in the internet propaganda war.
The world’s leading online disinformation platforms The US intelligence community, however has said that Russian government propaganda efforts on social platforms like Facebook and Twitter were likely aimed at weakening US-led coalition operations.
It said the Kremlin’s online propaganda campaigns were “targeted at destabilising the US and the international community in the Middle East”.
A senior US intelligence official told Reuters news agency in February that the US was worried about the spread on social networking platforms of fake accounts that were created by the Russian government.
The official said the Russians used fake accounts to create the content and then spread it across the internet in order to create an impression that the accounts were Russian.
“It’s really an attempt to create that impression that we’re not fighting against them but are actually working with them,” the official said.
But the US intelligence officials told Reuters that the Russian effort to manipulate social media was “far from limited to just the Middle Eastern region”.
“We do not know whether or not this is just an effort to undermine the US-coalition,” the intelligence official said, declining to name the countries.
The New York Times reported in March that Russian trolls were using Facebook and Google to push fake news to influence US voters.
In the wake of the New York attacks, US President Barack Obama said that the United States would “push back” on Russian propaganda efforts.
He told the US Congress on March 1 that the Trump administration would not be going after Russia for its efforts.
Russia, however is not the only nation to use social media to disseminating fake news.
Last year, the Russian state RT reported that US spies had been infiltrating social media accounts of prominent figures, including former presidents.
And the Kremlin has also been accused by the US Justice Department of trying, in part, to influence elections in Ukraine, a NATO ally.
Facebook and RT also have been accused in the past of spreading disinformation on social network platforms.
A recent report by the Atlantic Council, a Washington think-tank, found that the Kremlin is the most prolific source of fake content on social news websites.
It found that Russian propaganda was spread in the US, Canada, Australia, and Germany between April 2015 and March 2016.
Russia is also the biggest source of false stories on Facebook, the report found.
The report said Russian propaganda is also spreading on social sites that use similar content types, like memes and videos.
Russia also uses social media tools to target foreign politicians and policy experts, and to discredit them.
A former top Russian intelligence official who served as an adviser to the head of the FSB spy agency said that Russia had “plans to destabilise the world through fake news”.
And the country has “largely adopted a new method for disseminating propaganda and disinformation,” Sergei Ryabkov, the former head of Russia’s internal security agency, told Al Jazeera.
“Its a very, very effective method.
The methods have been perfected and they are very well-coordinated,” he said.
“They can be applied to many places.”
Russia has accused the United Nations of being responsible for creating a “false narrative” about Russia’s annexation of Crimea and the 2016 US presidential election.
The UN said on