"We are maintaining the cooperation, as you know what happened is that the process of accession was postponed, but the rest of the technical cooperation. Every day, Russia is a member of a number of our committees, and our subcommittees, and our working groups etc., and that continues," Gurria said on Thursday.
In May 2007, OECD members invited Russia to negotiate a possible accession agreement. Moscow hoped to become an OECD member in 2015, but in March of 2014 the organization announced it was suspending any talks on Russia’s membership. OECD explained this move by its need to answer Ukraine’s call to strengthen bilateral ties.
The United States, the European Union and some of their allies have imposed several rounds of sanctions targeting key sectors of the Russian economy, as well as a number of individuals and entities, over Crimea’s reunification with Russia and Moscow's alleged involvement in the conflict in eastern Ukraine.
Russia has repeatedly refuted the allegations, warning that the Western sanctions are counterproductive and undermine global stability. In response to the restrictive measures, Russia has imposed a food embargo on some products originating in countries that have targeted it with sanctions.
The OECD was established in 1961 to advance growth-oriented policies. With 34 members, including the United States, the United Kingdom, Germany and Japan, the organization also has partnerships with major emerging economies, including Brazil, China and India and delivers specific country programs.