Financing of terrorism: Ukraine calls for Russia to be blacklisted by FATF due to new crimes

08 June 2023, 17:28 | Economy
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The Ministry of Finance and Gosfinmonitoring are planning to propose to the International Group on Combating Dirty Money Laundering (FATF) to add the Russian Federation to the " This is stated in the message of the Ministry of Finance.

Finance Minister Serhiy Marchenko officially asked the finance ministers and others responsible for anti-money laundering policies in FATF member and observer countries to support Ukraine's initiative.

It is noted that on February 24 this year, the FATF suspended the membership of the Russian Federation in the organization. However, this is not enough.

" The FATF was created to counter such attacks on global security,"

“Blacklisting Russia will restrict its access to foreign markets and will require all FATF jurisdictions to apply enhanced due diligence and effective countermeasures to protect the international financial system from the ever-increasing risks posed by Russia. This will protect global financial security, help close existing loopholes in the sanctions regimes and stop the unprovoked and illegal war against Ukraine,” added Ihor Cherkassky, head of the State Financial Monitoring Service of Ukraine..

Russia has also committed a number of new violations since the suspension of its membership, in particular:.

Terrorist attacks that put thousands of civilians at risk. In particular, on June 6, 2023, Russia destroyed the Kakhovskaya dam in the Kherson region, causing one of the largest man-made disasters in Europe in recent decades..

Financing nuclear proliferation. Thus, the Russian Federation approved the transfer of nuclear weapons to Belarus.

Russia Continues to Trade Arms with Jurisdictions Subject to UN Sanctions. Vessels flying Russian and Iranian flags camouflage shipping routes in the Caspian Sea to trade arms and avoid sanctions.

Growth of cyber risks. In 2023, Russia increased the intensity of cyber-spy attacks against government organizations in at least 17 European countries.

Efforts to circumvent sanctions. Russia uses virtual assets to bypass anti-money laundering and economic sanctions checks.

Russia is suspected of human trafficking. March 2023. The International Criminal Court accused a number of Russian officials of forcibly deporting Ukrainian children from the occupied regions, which created a risk of human trafficking.

Growing level of corruption.

In March 2023, Russia officially withdrew from the Group of States against Corruption (GRECO). The Committee of the Council of Europe MONEYVAL expressed concern about the risks of an increase in the level of corruption from Russia.

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Recall that during the plenary meeting of the International Group on Combating Dirty Money Laundering (FATF), which was held from February 20 to 24 in. Paris (France), Ukraine raised the issue of sanctioning the Russian Federation for financing terrorism.




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