"The IOC reserves the right to review the inclusion of boxing on the programme of the Youth Olympic Games Buenos Aires 2018 and the Olympic Games Tokyo 2020".
It seems odd for Boxing to not be part of it, but that could happen as soon as the Tokyo Olympics in 2020.
"The IOC EB is freezing all contacts with AIBA, except the ones on the working level which are necessary to implement the respective IOC decisions", the statement read.
Bach added the International Olympic Committee was "extremely worried" about how the sport was run and that the International Olympic Committee was prepared to make bold decisions.
Following a two-day executive board meeting in Pyeongchang, Bach said the International Olympic Committee had not been satisfied with a report prepared by AIBA, and that it would be opening an investigation into the body.
ICO bigwigs claimed they were not "not satisfied" with a report by AIBA about its governance, refereeing and anti-doping issues - demanding a further inquest by April 30.
AIBA named Uzbek Gafur Rakhimov as its new interim president last week.
Bach has also expressed the refereeing in boxing and the scoring procedures have been a major concern off late as several of the matches have to go through a thorough review even after the results have been declared in the ring.
Amir Khan won a silver medal in Athens in 2004, becoming Britain's youngest boxing Olympic medallist at 17.
"From the fact that refereeing is part of the decision we already took in December past year and we were requesting more information, you can conclude we're still looking into this issue", Bach added.
The former light-welterweight world champion has just announced his return to the ring after nearly two years away from the sport. She followed that with gold in Rio in 2016 before turning professional in January 2017.
It comes as a huge disappointment to all the fans of boxing all over the world and all the amateur boxers hoping to qualify for the Olympics.
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