19:32 27.05.2022

Minister of Finance calls on FATF to expel Russia from organization, put it on black list

2 min read
Minister of Finance calls on FATF to expel Russia from organization, put it on black list

 Ukraine's Minister of Finance Serhiy Marchenko has called on the Financial Action Task Force (FATF) member states and observers requesting their support for initiative to expel the Russian Federation from the FATF and including it in the list of High-Risk Jurisdictions subject to a Call for Action (also known as a Black list).

"I approached 37 finance ministers of the FATF member states and observers requesting their support for initiative to expel the Russian Federation from the FATF and including it in the "black list." Russia undermines global efforts to prevent the financing of terrorism, the proliferation of weapons of mass destruction and money laundering. And this is a gross violation of general principles FATF," Marchenko wrote on Facebook on Friday.

As the Ministry of Finance explained on the website, Excluding Russia from the FATF and its subsequent blacklisting will also contribute to the global efforts to stop the bloody war at the heart of Europe that was started by Russia and has already displaced over 10 million people and killed thousands of civilian Ukrainians, including children.

The Ministry of Finance used, in particular, Russian financing of the so-called "LPR" and "DPR," which the Verkhovna Rada recognized as terrorist organizations as arguments for blacklisting Russia. This definition of self-proclaimed republics was approved by the US District Court.

In addition, the international community recently adopted sanctions against the Wagner Group, a private military organization based in the Russian Federation and fighting in Ukraine.

The Ministry of Finance also said that the Russian authorities used the criminal investigation and the fight against money laundering to obtain information about a number of individuals in order to politically combat them. The ministry cites examples of the Yukos case, as well as the case of opposition leader Alexei Navalny.

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