Ukraine has called on the FATF to blacklist Russia amid growing ties with North Korea and Iran, the Finance Ministry said on Wednesday, UNN reports.
Details
"The Ministry of Finance of Ukraine and the State Financial Monitoring Service of Ukraine call on the Financial Action Task Force on Money Laundering (FATF) to curb Russia's growing efforts to undermine global financial security and strengthen its ties with Iran and North Korea," the statement reads.
As noted, the next FATF meeting will be held from February 19 to 23 in Paris, on the eve of the second anniversary of Russia's full-scale invasion of Ukraine.
"At the meeting, Russia should be blacklisted by the organization, and the FATF should issue an expanded statement on the risks emanating from Russia," the Ministry of Finance emphasized.
As the agency noted, the FATF measures adopted a year ago, "while important, have failed to deter Russia, which has since become increasingly belligerent and deepened ties with North Korea and Iran.
"Russia has used North Korean ballistic missiles and ammunition in Ukraine, including in December 2023 and January 2024. The acquisition of such missiles and conventional weapons from North Korea is a serious violation of both UN sanctions and FATF principles," the Ministry of Finance emphasized.
The agency also pointed out that "Russia is increasingly using Iranian-made UAVs to continue its illegal invasion and intensify attacks against the civilian population of Ukraine." "russia has created a joint payment system to help Iran bypass SWIFT and has linked the banking systems of the two countries. At the end of this month, Myanmar is also expected to join the Russian payment system. As soon as Myanmar joins the payment system, Russia will double its financial cooperation with all countries on the FATF blacklist," the Ministry of Finance said.
The intensification of Russia's cooperation with Iran and North Korea has allowed the latter to enter the global financial system through the back door. To solve this problem, the FATF should blacklist Russia and warn the international financial system about the risks posed by Russia
"We are confident that the FATF will consider this issue with the utmost attention during the upcoming plenary session to help protect global financial security," added Ihor Cherkasky, Head of the State Financial Monitoring Service.
Addendum
A year ago, the FATF suspended Russia's membership for violating the organization's key principles of promoting the safety, security and integrity of the global financial system. The FATF has also expressed deep concern over reports of arms trafficking between Russia and states under UN sanctions, as well as malicious cyber activity emanating from Russia.
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Director of the Kyiv Scientific Research Institute of Forensic Expertise Oleksandr Ruvin previously called for a final examination of the use of missiles produced by the DPRK by Russia. He noted that Russia had never used this type of missile in Ukraine before.
"We have also been assigned the relevant expertise, and the objects will be handed over any day now, and we will make a definite decision after examining them. Of course, we have previously reviewed and analyzed all the photos and videos that are publicly available. We understand that the elements recorded there, i.e. visually specific parts, cables, their color, material and other characteristics, have never been found in any Russian missile studied so far. At the same time, there are no established facts of the use of Korean-made missiles, as well as the attacks on the capital. We will do our job here and provide additional information as soon as it becomes possible," said Oleksandr Ruvin.