Friday, March 14, 2014

OECD Freezes Russia’s Membership Bid

The Organization for Economic Cooperation and Development said on Thursday it had put Russia’s accession process on hold amid the ongoing international standoff over Ukraine's autonomous republic of Crimea. Troops lacking official insignia but widely believed to be under Russian command have seized military bases in recent weeks in the Russian-speaking republic, which has scheduled a referendum on secession and annexation by Russia for Sunday. “The OECD has postponed activities related to the accession process of the Russian Federation to the OECD for the time being,” the organization said on its website. The OECD also said it would respond positively to a request by Ukraine to boost cooperation with Kiev.

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