https://www.ukrinform.net/rubric-economy/4065772-eu-adds-russia-to-grey-list-over-money-laundering-concerns.html

On December 3, the European Commission added Russia to the list of countries with a high risk of money laundering and terrorist financing.

This was reported in an official statement by the European Commission's press service, according to Ukrinform.

European Commissioner for Financial Services and the Union of Savings and Investment Funds Maria Luisa Albuquerque said that during its planned work to preserve the integrity of the EU financial system, the European Commission “added Russia to its list of high-risk jurisdictions” which have strategic deficiencies in their anti-money laundering and counter-terrorist financing systems.

EU entities covered by the anti-money laundering system must exercise increased vigilance with regard to such transactions.

The European Commission conducted a technical assessment and “concluded that Russia meets the criteria for being recognized as a high-risk third country.”

The EC press service recalled that in July, the European Commission adopted a regulation requiring the completion by the end of the year of an assessment of third countries not included in the list of the Financial Action Task Force (FATF).

The decision will take effect within a maximum of two months after verification and in the absence of objections from the European Parliament and the Council of the EU.

As reported by Ukrinform, in June, the European Union considered whether to add Russia to its “gray list” of countries with weak anti-money laundering controls.