Ukraine initiating suspension of Russia’s EBRD membership

Deputy Director of the EBRD Board of Directors from Ukraine Artem Shevalev announced this on Facebook, Ukrinform reports.

“Following Russia's blatant violation of international law by recognizing the ‘sovereignty’ of DPR/LPR terrorist groups, I immediately raise before the Board of Directors and the Board of Governors of the European Bank for Reconstruction and Development the issue of immediate suspension of Russia from EBRD membership under Articles 8.3 and 38.1 of the Agreement Establishing the Bank,” he wrote.

According to Shevalev, there is every reason to count on the serious support of other EBRD shareholders in this matter.

As reported, on February 21, Russian President Vladimir Putin signed decrees to "recognize" two illegal entities in the temporarily occupied territories of Donetsk and Luhansk regions of Ukraine.

The Ukrainian Foreign Ministry has stated that Russia's decision to recognize the so-called "LPR" and "DPR" will have no legal implications. The decision sharply escalates the situation and can mean the Russian Federation’s unilateral withdrawal from the Minsk agreements.

iy