Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Thursday, July 27, 2017

Ukraine announces secession from CIS

Ukraine announced on Tuesday that it would be seceding from the Commonwealth of Independent States.

The announcement was made by Andriy Parubiy, the chairman of the country's Council of National Security and Defense, ABC.az reports.

Ukraine is one of the founding members of the CIS, though it has not ratified its charter for membership since 1991, meaning Ukraine is considered a participating member and not a full member of the CIS.

"We decided to prepare a plan for holding joint exercises of Ukrainian army and allies-guarantors of Ukrainian security," Parubiy said, according to ABC.az. "Appropriate appeal to the countries-guarantors has already been prepared."

Ukraine is expected to sign an agreement with the European Union in June. Full membership to the EU, however, could be hampered by territorial conflict in Ukraine, including the loss of Crimea to Russia.