Ukraine reacts sharply to FATF's decision not to blacklist Russia - Politico

Ukraine has reacted sharply to the decision of the global anti-money laundering organization FATF not to include Russia in its "blacklist," Politico reports, UNN writes.

Details

"Kyiv, which has long advocated for Russia's inclusion in the Financial Action Task Force on Money Laundering's (FATF) list of the worst economic offenders, said it was "disappointing" that several countries rejected its inclusion in the October vote," the newspaper writes

"Russia has demonstrated both the ability and the intention to engage in activities that harm FATF member states and the FATF mission," said Vladyslav Vlasiuk, Advisor to the Office of the President of Ukraine and Presidential Commissioner for Sanctions Policy.

But a vote among FATF members on October 25 failed, as countries including China, India, Saudi Arabia and South Africa voted against the proposal, according to Reuters.

FATF refuses to blacklist Russia at Ukraine's requestOct 26 2024, 09:33 AM • 55882 views

"Once again, FATF member countries have failed to recognize the threat that Russia poses to global security and the global financial system, as evidenced by its malicious cyberattacks, economic warfare and destabilizing activities around the world and in FATF member countries," Vlasiuk said.

Ukraine's supporters say this is proof that the body is "broken" and unable to respond to global crises.

"Like all multilateral organizations these days, the FATF is split on geopolitics," said Tom Keating, director of the Center for Finance and Security at the Royal United Services Institute.