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FATF again did not dare to include Russia in the “black list”

FATF continued to suspend Russia's membership without introducing further restrictive measures – it did not add a terrorist country to the “black” or “gray” list. This is stated in the FATF statement

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FATF Position

The FATF stated that “Members note with concern the potential risks to the international financial system, including Russia’s growing financial ties with countries subject to FATF countermeasures, the risks of financing the proliferation of weapons of mass destruction, and malicious cyber activity and attacks.” FATF also called on all states to remain vigilant due to the above-mentioned risks.

Read: FATF again refused to include Russia in the “gray” or “black” lists

Position of the Ministry of Finance of Ukraine

“We expected more decisive action from the FATF amid growing evidence of violations by Russia. I welcome the FATF's expanded recommendations regarding the risks associated with Russia, but the response – adding Russia to the “black” list – is not enough. The absence of more stringent restrictive measures dangerously plays in favor of the Kremlin, giving it and potentially other attackers the green light to continue the gradual destruction of the rules-based international system,” said Minister Sergei Marchenko.


< p>Last year, Russia stepped up arms trade with Iran and North Korea, which are blacklisted by the FATF. Since December, evidence has continued to emerge that Russia is purchasing North Korean missiles for use on the battlefield against Ukraine in defiance of UN sanctions. This week, new reports have emerged that Iran has sent ballistic missiles to Russia.

Read: Friendship with North Korea and Iran: Ukraine again calls on FATF to bring Russia into the fold blacklist

Tightening financial and banking ties with Russia provides North Korea, Iran and Myanmar, which are under severe sanctions, with an opportunity to gain access to the global financial system, creating serious challenges for the FATF and its members.

The blacklist includes Iran, Myanmar and North Korea. The gray list includes Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Democratic Republic of Congo, Gibraltar, Haiti, Jamaica, Jordan, Mali, Morocco, Mozambique, Panama, Philippines, Senegal, South Sudan, Syria. United Arab Emirates and Yemen.

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