(Bloomberg) -- Russia and Belarus were suspended from participation in all of the bodies of the Organization for Economic Development and Cooperation.
The Paris-based group acts as a key forum for the world's richest economies to compare economic policies and negotiate on issues from trade to tax. The OECD already said in February it had terminated Russia's accession process, closed its Moscow office and stopped inviting the country's minister to events.
“In response to Russia's large-scale aggression against Ukraine, the OECD Council has decided to immediately suspend the participation of Russia and Belarus in OECD bodies,” the organization said in a statement Tuesday.
Neither Russia nor Belarus are OECD members. Russia's accession process was postponed in 2014.
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