Global financial watchdog FATF once again refuses to include Russia on its black list – Reuters

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

Source: FATF website, as reported by Reuters 

Details: Another attempt by Ukraine to strengthen sanctions on 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 in order to collect additional proof.

At the same time, during the plenary conference, the FATF added Algeria, Angola, Côte d'Ivoire, and Lebanon to the so-called grey list. At the same time, Senegal was removed from this list.

Ukraine's plea to the FATF emphasised Russia's financial and military collaboration with high-risk countries such as North Korea and Iran, as well as the sponsorship of private armed groups such as the Wagner Group and their unlawful activities.

They also talked about Russia's use of Telegram channels and cryptocurrency to fund 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 22 October, Ekonomichna Pravda’s sources reported that FATF had once again failed to include Russia in the black list.

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