OECD terminates accession process with Russia

ANKARA

The Organization for Economic Co-operation and Development (OECD) on Friday announced that it has decided to formally terminate the accession process with Russia, which was postponed in 2014.

In a statement, the organization added that it will close its Moscow office and stop all invitations to Russia at ministerial levels.

"The OECD continues to stand in strong solidarity with the Ukrainian people ... to strengthen OECD support for the democratically elected government of Ukraine," it added.

The statement said it will continue to assess the economic and social repercussions of Russian aggression against Ukraine and discuss the impact on the energy market.

Russia launched a military operation against Ukraine on early Thursday, drawing international condemnation.

The OECD had postponed activities related to the accession process of the Russian Federation on March 12, 2014.