OECD (Organization for Economic Co-Operation and Development) Suspends Russia & Belarus from Participation

The Organization for Economic Co-operation and Development (OECD) announced on Tuesday it has suspended Russia and Belarus from any participation in its organization. This forum is an intergovernmental economic organization​ that has 38 member countries and founded in 1961 to stimulate economic progress and world trade.

The suspension follows a series of condemnations from the market-oriented economic forum aimed at Russia’s invasion of Ukraine, which prompted a U.S. ban on Russian oil imports.

Russia and Belarus are not official members of the Paris-based group. Russia’s accession into the OECD​ was postponed in 2014 when Russia annexed Crimea, and was terminated last month as a result of Russian aggression against Ukraine.

The OECD is one of the world’s major multilateral economic bodies with a membership of mostly rich, highly developed countries. The exclusion of Russia and Belarus will mean they’re barred from participating in negotiations on issues including taxation, international business regulation and trade.

The group also announced a plan “to develop proposals to further strengthen support to the democratically elected government of Ukraine, including to support recovery and reconstruction.”

0 0 votes
Article Rating

You Might Like

Leave a Reply

3 Comments
Inline Feedbacks
View all comments
Sheila Sure
Sheila Sure
6 months ago

And another woke company is going broke

MildredBaker
MildredBaker
6 months ago

Begin working at home with Google! It’s by a wide margin the best occupation I’ve had. Last Wednesday I got a fresh out of the box new BMW since getting a check for $13474 this – a month past. I started this 8-months Qas prior and promptly was bringing home at any rate $every hour. I work through this connection,
go to tech tab for work detail…….

MildredBaker
MildredBaker
6 months ago

Begin working at home with Google! It’s by a wide margin the best occupation I’ve had. Last Wednesday I got a fresh out of the box new BMW since getting a check for $13474 this – a month past. I started this 8-months Zde prior and promptly was bringing home at any rate $every hour. I work through this connection,
go to tech tab for work detail……. Click Here