The OECD (Organization for Economic Co-operation and Development) council announced, in a statement on Friday (25), the decision to formally end Russia’s accession process to the group, made up of the world’s most advanced rich and developing countries.
Membership had been suspended since 2014, when Vladimir Putin was preparing to invade Ukraine to retake the Crimea region. Russia has cooperated with the OECD since 1992, but it was not until 2007 that negotiations began to formalize membership.
In addition to closing the process, the Organization also decided to close the entity’s office in Moscow and interrupt relations and commitments with Russian ministers and authorities.
The entity’s board also asked its secretary-general to suspend projects financed by Russian contributions that have not yet started.
On Thursday, the OECD had already condemned what it called “Russia’s large-scale aggression against Ukraine in the strongest possible terms as a clear violation of international law and a serious threat to the rules-based international order.” , the statement said.
The council’s council reaffirmed its support and solidarity with Ukraine and said it would continue to assess the economic and social repercussions of “Russia’s current large-scale aggression”, in particular the impacts on the energy market.
Source: CNN Brasil
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