The OECD is a Paris-based think tank uniting 30 market democracies, providing a forum to address economic, social and governance challenges.
German Gref said the admission of foreign banks' branches to the Russian banking sector was the most sensitive issue at talks on Russia's accession to the World Trade Organization (WTO).
During the WTO talks, Russia secured a ban on the opening of foreign banks' branches on its territory and managed to keep a 50% quota on foreign capital's share in aggregate banking capital in an effort to develop the sector and limit capital flight.
The branches of foreign banks operate under the legislation of the banks' home countries, and pay taxes to their home jurisdictions.
Russia holds observer status in the OECD, which was formed after WWII to oversee the Marshall Plan for Europe's reconstruction.
