jan 1, 1948 - USSR announced "Council for Mutual Economic Assistance", or CMEA / Comecon

Description:

The Comecon was an economic and commercial organization between the socialist states.
It was a reaction to the Marshall Plan, as well as the Truman Doctrine, and agreed on mutual assistance between the states.
The region's trade was strictly bilateral on a country-to-country basis. This limited volume & effects of this agreement.

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