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

Source: FATF website as reported Reuters

Details: Another attempt by Ukraine to strengthen sanctions against the Russian Federation failed due to opposition from China, India, Saudi Arabia, South Africa and Brazil.

According to reports, Ukraine’s request was delayed to collect additional evidence.

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

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

They also talked about Russia’s use of Telegram channels and cryptocurrency to finance terrorism and launder money from assets stolen during the invasion of Ukraine.

FATF has blacklisted three countries: North Korea, Iran and Myanmar.

Background: On October 22, Ekonomichna Pravda sources reported that the FATF had failed to blacklist Russia.

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