The foundation that was Russia's largest source for private grants for science has decided to disband after being placed on the country's list of "foreign agents."

The Dynasty foundation's board made the decision on Monday, according to a statement on its website.

The foundation has provided support for scientists, fellowships and visits to Russia by foreign scientists.

Russian law requires non-governmental organizations that receive funding from abroad to register as "foreign agents," a term carrying Cold War spying connotations.

The Justice Ministry declared Dynasty a foreign agent because its Russian head funds it with money from foreign bank accounts.

Dynasty was to allocate about $8 million in grants this year. The foreign agent label would have made it nearly impossible for it to support state-funded libraries, schools and colleges.