The Anti-Money Laundering Agency (FATF) did not again blacklist Russia – Meduza

The Financial Action Task Force (FATF) did not blacklist Russia, as Ukraine had previously requested. This ought to from the group’s press release after the plenary meeting on October 23-25.

It only says that Russia’s membership, which was suspended after the start of the war in February 2022, remains in the same status.

The fact that Ukraine’s request to include Russia in the blacklist has not yet been satisfied as well writing Reuters. It was rejected by several countries, including China, India, Saudi Arabia and South Africa, according to three agency sources. Two people said Brazil was also among those who rejected the proposal. It was suspended to allow more evidence to be gathered, another source said.

The FATF refused to comment, saying that it should update the so-called “grey” and “black” lists of countries after the end of the full talks, writes Reuters.

On October 15, Politico wrote that the FATF would consider the possibility of listing Russia at their meeting on October 22. The publication noted that Ukraine, which requested this, has recently strengthened its efforts. A memorandum prepared for the FATF meeting, according to Politico, said that Russia maintains close financial and military cooperation with the DPRK and Iran, which is on the blacklist. The drafters of the certificate also drew attention to illegal activities related to the financing of private military units and to the laundering of funds “obtained from goods stolen during the invasion of Ukraine.”

Russia has been a member of the FATF since 2003. Its membership was suspended after the war began in 2022. The previous time, Russia’s inclusion on the FATF “blacklist” was considered, which ‘ asked Ukraine, at the group’s plenary meeting in Paris in June 2023. At that time, the group did not include Russia either on the black list or on the so-called “grey ” (there are countries whose financial transactions are subject to better scrutiny).

There are currently three countries on the FATF blacklist: Iran, Myanmar and North Korea. Accessing it means being disconnected from the international banking system and doing business only through intermediaries.