Ukraine’s attempt to add Russia to FATF ‘blacklist’ fails as India and China reject move

Ukraine suffered a setback in his attempts to obtain it Russia included in the Financial Action Task Force (FATF) ‘blacklist’ after this move did not find support among several key countries, including India, China, Saudi Arabia and South Africa.
This was Ukraine’s second attempt to blacklist Russia.
Inclusion on the FATF blacklist indicates serious deficiencies in a country’s systems that need to be addressed money laundering and financing of terrorism. It could lead to economic sanctions, limited access to international financing, increased surveillance, reputational damage and diplomatic pressure.
Earlier this week, during discussions in Paris by the international financial crime watchdog Financial Action Task Force (FATF), Brazil was among countries that rejected a proposal from Ukraine, Reuters reported, two sources familiar with the matter said on Friday. .
Another source added that Ukraine’s suggestion to exclude Russia was postponed to gather additional evidence.
The FATF, whose member states include major economies such as the United States, Britain, France and Germany, refrained from commenting and stated that it would provide an update on its “grey” and “on the blacklisted countries. on the day.
The Ukrainian government has argued that Russia poses a threat to the international financial system, citing its close ties with other “blacklisted” countries such as Iran and Russia. North Koreaamong other arguments.
The Ukrainian government has also highlighted the various sanctions imposed on Russia by Western governments in response to its 2022 invasion of Ukraine.
Last year, the FATF suspended Russia’s membership, saying the war in Ukraine conflicted with the organization’s principles.
Earlier in the day, the FATF, a global financial crime watchdog, also announced that it has removed Senegal from its list of countries under enhanced surveillance, while adding Algeria, Angola, Ivory Coast and Lebanon.
Senegal has made significant progress in implementing measures to combat money laundering and terrorist financing, the watchdog said in a statement.