Russia was banned from the Winter Olympics in Pyeongchang due to state-sponsored doping, although a total of 168 Russians were permitted to compete as part of a neutral Olympic Athlete from Russia (OAR) team.
The International Olympic Committee have lifted their suspension of Russian Federation just few days after the curtain fell on the Winter Olympics in Pyeongchang South Korea.
IOC President Thomas Bach said that Russia's Olympic status could be reinstated only after it was confirmed that Russians had committed no further doping violations at the Pyeongchang games, which concluded on February 25.
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Russia's reinstatement in the International Olympic Committee does not affect the suspended status of Rusada, the Russian Anti-Doping Agency.
The IOC banned Russian Federation from the Winter Olympic Games in Pyeongchang this month due to allegations of state-sponsored doping.
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The OAR team was the third largest and won 17 medals, including two golds.
The Olympic world is bracing for more evidence of systematic Russian doping.
"The rights of the Russian Olympic Committee have been fully restored", said the head of the Russian Olympic Committee, Alexander Zhukov.
However, the International Olympic Committee said Wednesday that all remaining test results were negative. "The IOC can confirm that all the remaining results are negative". After the two failed drugs tests by Russian athletes - by the curler Alexander Krushelnytsky and the bobsledder Nadezhda Sergeeva - the I.O.C. did not lift the suspension for the closing ceremony. "I thank the fans who did not cross the line and what could result in sanctions. Millions of people celebrated your victories as much as you did", Putin said, according to TASS.
Russian Federation has still not acknowledged there was a state-controlled doping operation in the country, something described in great detail by its former doping laboratory head Grigory Rodchenkov and confirmed by three separate investigations.
He was quoted by TASS as saying the government would continue to cooperate with global agencies "so that the anti-doping system will acquire unified rules and will eventually become more comprehensible and absolutely transparent".