The global financial watchdog FATF again refuses to blacklist Russia

At a meeting on October 21 and 25, the Financial Action Task Force (FATF) maintained its decision not to suspend Russia’s participation in the organization.

Source: FATF website, as reported by Reuters

Details: Another attempt by Ukraine to strengthen sanctions against the Russian Federation failed due to opposition from China, India, Saudi Arabia, South Africa and Brazil.

According to reports, Ukraine’s application has been postponed to gather additional evidence.

At the same time, during the plenary conference, the FATF added Algeria, Angola, Ivory Coast and Lebanon to the so-called gray list. At the same time, Senegal was removed from this list.

Ukraine’s plea to the FATF highlighted Russia’s financial and military cooperation with high-risk countries such as North Korea and Iran, as well as its sponsorship of private armed groups such as the Wagner Group and their illegal activities.

They also discussed Russia’s use of Telegram channels and cryptocurrency to finance terrorism and launder money from stolen goods during the invasion of Ukraine.

The FATF has blacklisted three countries: North Korea, Iran and Myanmar.

Background: On October 22, Ekonomichna Pravda sources reported that the FATF had once again failed to blacklist Russia.

Support UP or word our patron!