The Organization for Economic Co-operation and Development (OECD) has decided to end relations with the aggressor state of the Russian Federation and has concluded negotiations on the possibility of joining the organization.
A number of decisions on this issue have been made today by the OECD Council, European Truth reports.
The OECD brings together 38 developed countries, mostly with high levels of prosperity, to coordinate common policies. Member States are required to adhere to the principles of a market economy and democratic pluralism. Russia has long sought to join this elite world club.
The first decision OECD has made was to finally suspend the negotiation process on Russia's possible joining the organization. This process has been frozen since 2014, but the organization has declared its readiness to resume it in case of making appropriate steps by Russia. In addition, the OECD Council decided to close its office in Moscow and withdraw all invitations to Russia for ministerial meetings.
Also, the OECD will not start new projects with Russia and will take steps to stop existing ones.
This decision is tantamount to severing relations in the terminology of sovereign states. As you know, earlier Kyiv asked partner countries to sever diplomatic relations with Russia.
It will be recalled that the Organization for Economic Cooperation and Development is an international organization that unites the most economically developed countries in the world - most of the European Union, the United States, Australia, Korea, Japan and others. The headquarters is located in Paris (France).
The OECD Treaty was signed on 14 December 1960 in Paris and entered into force on 30 September 1961. The Treaty was concluded to coordinate the economic policies of OECD member countries and to provide assistance to developing countries. The OECD also actively cooperates with non-member countries in the framework of specialized programs, international events, etc.