OECD Ends Membership Negotiations with Russia

[Asia Economy Reporter Changhwan Lee] The Organisation for Economic Co-operation and Development (OECD) announced on the 25th (local time) that it will officially terminate Russia's OECD membership negotiations as a response measure to Russia's invasion of Ukraine.

According to foreign media, the OECD Board of Directors stated in a press release that it will close the Moscow office and will no longer invite Russia to ministerial-level meetings.

Russia has been negotiating its membership with the OECD since May 2007. The OECD Board said it will continue to reconsider ways to cooperate with Russia over the coming days or weeks while also reviewing support measures for the Ukrainian government.