diff --git a/Makefile b/Makefile
index a1810c8..ee99b2a 100644
--- a/Makefile
+++ b/Makefile
@@ -41,7 +41,7 @@ install: composer.lock yarn.lock
 	$(DOCKER_PHP) composer install --prefer-dist --no-interaction --no-progress --ansi
 	$(DOCKER_NODE) yarn install
 
-test: unit test-recursion.json test-recursion2.yaml test-empty-maps.json
+test: unit test-recursion.json test-recursion2.yaml test-recursion3_index.yaml test-empty-maps.json
 
 unit:
 	$(DOCKER_PHP) php $(PHPARGS) $(XPHPARGS) vendor/bin/phpunit --verbose --colors=always $(TESTCASE)
diff --git a/src/spec/Reference.php b/src/spec/Reference.php
index ce99d9e..cda612a 100644
--- a/src/spec/Reference.php
+++ b/src/spec/Reference.php
@@ -289,6 +289,8 @@ private function resolveTransitiveReference(Reference $referencedObject, Referen
         return $transitiveRefResult;
     }
 
+    private $_recursingInsideFile = false;
+
     /**
      * Adjust relative references inside of the file to match the context of the base file
      */
@@ -306,7 +308,14 @@ private function adjustRelativeReferences($referencedDocument, $basePath, $baseD
                     // direcly inline references in the same document,
                     // these are not going to be valid in the new context anymore
                     $inlineDocument = (new JsonPointer(substr($value, 1)))->evaluate($baseDocument);
-                    return $this->adjustRelativeReferences($inlineDocument, $basePath, $baseDocument, $oContext);
+                    if ($this->_recursingInsideFile) {
+                        // keep reference when it is a recursive reference
+                        return ['$ref' => $basePath . $value];
+                    }
+                    $this->_recursingInsideFile = true;
+                    $return = $this->adjustRelativeReferences($inlineDocument, $basePath, $baseDocument, $oContext);
+                    $this->_recursingInsideFile = false;
+                    return $return;
                 }
                 $referencedDocument[$key] = $context->resolveRelativeUri($value);
                 $parts = explode('#', $referencedDocument[$key], 2);
diff --git a/tests/spec/data/recursion3_index.yaml b/tests/spec/data/recursion3_index.yaml
new file mode 100644
index 0000000..dff63d6
--- /dev/null
+++ b/tests/spec/data/recursion3_index.yaml
@@ -0,0 +1,31 @@
+openapi: 3.0.3
+info:
+  title: Link Example
+  version: 1.0.0
+#components:
+#  parameters:
+#    "Parameter.PetId":
+#      "$ref": "./subdir/Parameter.PetId.json"
+paths:
+  /contents/menus/{id}/trees:
+    put:
+      tags:
+        - menus
+      operationId: updateMenuTrees
+      summary: '123'
+      description: '456'
+#      parameters:
+#        - $ref: '#/components/parameters/PathId'
+      requestBody:
+        required: true
+        content:
+          application/json:
+            schema:
+              $ref: './recursion3_menu_tree.yaml#/UpdateMenuTreesRequest'
+      responses:
+        "200":
+          description: Успешный ответ
+          content:
+            application/json:
+              schema:
+                $ref: './recursion3_menu_tree.yaml#/UpdateMenuTreesResponse'
diff --git a/tests/spec/data/recursion3_menu_tree.yaml b/tests/spec/data/recursion3_menu_tree.yaml
new file mode 100644
index 0000000..bce418d
--- /dev/null
+++ b/tests/spec/data/recursion3_menu_tree.yaml
@@ -0,0 +1,33 @@
+MenuTree:
+  type: object
+  properties:
+    name:
+      type: string
+      description: 'Name'
+      example: 'Home'
+    url:
+      type: string
+      description: Link
+      nullable: true
+      example: '/about/'
+    children:
+      type: array
+      items:
+        $ref: '#/MenuTree'
+      example: []
+UpdateMenuTreesRequest:
+  type: object
+  properties:
+    items:
+      type: array
+      items:
+        $ref: '#/MenuTree'
+UpdateMenuTreesResponse:
+  type: object
+  properties:
+    data:
+      type: array
+      items:
+        $ref: '#/MenuTree'
+  required:
+    - data