FATF again did not include russia in the "black" list

The suspension of the membership of the russian federation in the FATF remains in force, but russia was not included in the "black" list again.

The plenary session was held from June 23 to 28, 2024 in Singapore.

The FATF also adopted a statement in which it warned all countries about the strengthening of North Korea's financial ties with the international financial system and reminded of the serious threats it poses to financing the proliferation of weapons of mass destruction.

The FATF emphasized the need for strict application of targeted financial sanctions against North Korea and the termination of any correspondent relations with North Korean banks.

"We expected more decisive actions from the FATF in connection with the numerous evidence of violations on the part of russia. Although I welcome the decision to extend the suspension of the membership of the russian federation, there is still a lack of an appropriate response - inclusion in the blacklist.

The FATF, which is responsible for the safety of the global financial system, should stick to its mandate and directly name a country that has increased its financial ties with North Korea in violation of UN Security Council Resolutions. There is enough evidence of such cooperation.

The lack of tougher restrictive measures against russia plays in the Kremlin's favor, allowing it and potentially other perpetrators to continue to undermine the international system," Ukrainian Finance Minister Serhiy Marchenko noted.

Source: official website of FATF