The Organization for Economic Cooperation and Development (OECD) has decided to stop the process of Russia's admission to it, the organization said in a statement. Russia's accession to the OECD has been suspended since 2014.

The OECD also decided to close the organization's Moscow office and no longer invite a Russian representative to meetings at the ministerial level. In addition, the organization will refuse all projects that were funded by Russia on a voluntary basis.

The OECD is an international organization whose purpose is to develop international standards and recommendations for improving state social, economic and environmental policies. In 2007, Russia received an invitation to start official negotiations on joining the organization, but in 2014 the negotiation process was temporarily suspended.

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