The International Group for Combating Money Laundering and the Financing of Terrorism - FATF, has limited the role and influence of the Russian Federation in this international body, and is preparing to include the Russian Federation in the sanctions list. The relevant decisions were made during the regular plenary meeting of the FATF, which was held in a " Berlin, Germany, from 13 to 17 June.

During the meeting, issues related to the global measures taken by the FATF in the field of combating money laundering, the financing of terrorism and the financing of the proliferation of weapons of mass destruction were discussed..

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Following the meeting, a statement was made public, which notes that the FATF decided to significantly limit the role and influence of the Russian Federation in this body due to the Russian invasion of Ukraine.

The members of the FATF decided that:.

Russia will no longer hold any leadership position in the FATF;

Russia's participation in decision-making on setting standards, FATF assessments and other important issues will be significantly limited.

Russia will no longer provide assessors, reviewers or other experts for FATF peer review processes.

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According to the statement, the actions of the Russian Federation are contrary to the basic principles of the FATF aimed at promoting the security and integrity of the global financial system.. They are also in flagrant violation of the commitments by which FATF members agreed to implement and maintain FATF standards..

The FATF has once again expressed its deepest condolences to the people of Ukraine and continues to deplore the enormous loss of life and unjustified destruction caused by the ongoing Russian invasion.

In addition, according to the State Financial Monitoring Service of Ukraine, which participated in the meeting, the issue of including the Russian Federation in the sanctions list will be considered as part of the FATF follow-up measures..

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“Given that, according to the FATF Mandate, all decisions are made by consensus (and not by a majority vote of members), the issue of including the Russian Federation in the FATF sanctions list continues to be discussed between member countries and observers, and will be considered as part of the next FATF measures,” the message says..

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