FATF decides not to include Russia in the “black” and “grey” lists – Kommersant
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The International Financial Action Task Force on Money Laundering (FATF) has decided not to consider the inclusion of Russia in the black and gray lists. The decision was made on results plenary session of the group on June 21-23.
The FATF fine lists include countries that violate international requirements to combat money laundering and the financing of terrorism. Blacklisting involves enhanced verification of transactions with the countries included in them.
“The suspension of the membership of the Russian Federation remains in effect,” the FATF said in a statement. The group noted that Russia’s actions in Ukraine “continue to contradict the principles of the FATF to promote the security, reliability and integrity of the global financial system.”
Rosfinmonitoring commented decision of the FATF to maintain the suspension of Russia’s membership: “This decision does not entail any obligations and restrictions for financial institutions in Russia and abroad.”
June 14 Bloomberg citing sources, he reported that Russia had asked 12 countries not to include it in the FATF blacklist. According to the agency, the appeal, sent to Saudi Arabia, Mexico, Turkey, and the UAE, included the implications of this decision for investment and cooperation in defense and energy projects. Bloomberg also wrote about the possible isolation of the Russian economy if the country is blacklisted.
The FATF suspended Russia’s membership in the organization on February 24, 2022, the day the special operation in Ukraine began. In addition to the outbreak of hostilities, “malicious cyber activity” emanating from Russia, as well as trade with countries subject to UN sanctions, were cited as the reason.
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