““The review concluded that Russia meets the criteria for designation as a third country with a high level of risk””, — write: www.radiosvoboda.org
The European Commission points out that in July it adopted a Delegated Regulation that obliges it to complete a review of third countries that are not included in the Financial Action Task Force (FATF) but whose membership is suspended by the end of 2025. The aim was to assess the need to amend the EU anti-money laundering list based on this review.
Since Russia is subject to this regulation, the commission carried out a technical assessment using “well-defined methodologies and taking into account information gathered from public sources, competent authorities of Member States and the European External Action Service”.
“This review concluded that Russia meets the criteria for designation as a high-risk third country,” the statement said.
Subjects of the European Union, which are covered by the anti-money laundering system, should be more vigilant regarding operations involving countries on this list.
The European Commission clarifies that the Delegated Regulation will enter into force after verification and approval by the European Parliament and the Council of the EU within a month. This term can be extended for another month.
Russia has been a member of the Financial Action Task Force (FATF) since 2003. Its membership was terminated after the outbreak of full-scale war in 2022. In 2024, the organization did not include the Russian Federation in the black list at the request of Ukraine.
