Official Brussels is considering a plan to add Russia to its "gray list" of countries with inadequate money laundering controls. It is important to understand that this move could significantly increase financial pressure on the Kremlin.
Points of attention
- The European Commission postponed the adoption of the decision to include Russia in the 'gray list' for administrative reasons, as discussions on the potential repercussions continue.
- The EU's 'gray list' typically aligns with the Financial Action Task Force's list, highlighting the seriousness of the implications for Russia if it is added.
What did the European Union plan this time?
According to media reports, the option of including Russia on the "gray list" of countries with inadequate money laundering controls is currently being actively discussed.
What is important to understand is that it is supported by the majority of members of the European Parliament, but the adoption of this decision is still ahead.
German MEP Markus Ferber made a statement on this matter.
"There is great support for adding Russia to the list," he emphasized.
As journalists managed to find out, the announcement of the list was expected this week, but the European Commission postponed its adoption "for administrative and procedural reasons."
If Russia were to be included in such a list, it would cause reputational damage and would also force financial institutions to conduct additional checks on transactions involving individuals or organizations from the aforementioned territories, leading to increased costs.
It is worth noting that the European Union's "grey list" usually corresponds to the list compiled by the Financial Action Task Force (FATF).
