EU Parliament Urges Blacklisting Russia for Money Laundering and Terrorism Financing

The European Parliament has urged the European Commission to include Russia in the list of countries with a high risk of money laundering and terrorism financing (FATF).

This topic was discussed by MEPs  with European Commissioner for Financial Services and Financial Stability, Mairead McGuinness, during debates held at the European Parliament's plenary session in Brussels on Wednesday, November 13.

MEPs believe that Moscow is funding its war against Ukraine through corrupt schemes that allow the Russian regime to circumvent international sanctions. 

Additionally, they argue that Russia is plagued by high levels of corruption and organized crime, which are deeply intertwined with state structures.

The Financial Action Task Force (FATF) leads global action to combat money laundering, terrorist and proliferation financing.

FATF suspended Russia's membership in February 2023. However, Ukraine’s Ministry of Finance has been calling on FATF to add Russia to the "blacklist."