FATF doesn't add Russia to blacklist, as several countries oppose
Illustrative photo: Russia was not added to FATF's blacklist (Getty Images)
The Financial Action Task Force (FATF) once again did not include Russia on its blacklist, with several countries siding with the aggressor, according to the FATF press service and Reuters.
According to Reuters sources, Ukraine's proposal to include Russia on the list of countries with poor compliance with anti-money laundering standards was not supported by China, India, Saudi Arabia, and South Africa.
Journalists’ sources also noted that Brazil was among the countries opposing the initiative.
Meanwhile, another source indicated that Ukraine’s proposal was postponed to gather additional evidence.
FATF
FATF develops standards to combat money laundering and terrorist financing. The group also assesses whether countries comply with these standards.
Based on FATF’s findings, some countries are placed on the blacklist. This impacts their banking systems and international trade. Any payments directed to banks in these countries come under special scrutiny.
Currently, the blacklist includes Iran, North Korea, and Myanmar.
Ukraine has advocated for adding Russia to the blacklist due to its close cooperation with Iran and North Korea.
