Ukraine Urges EU to Add Russia to ‘Grey List’ Over Money Laundering Concerns
The National Bank of Ukraine (NBU) is pushing for Russia to be added to the European Union’s ‘grey list’ of countries with weak anti-money laundering measures, according to First Deputy Governor Serhiy Nikolaychuk. The move aims to pressure Russia over its financial practices and sanctions evasion. The NBU’s lobbying effort is part of a broader strategy to counter Russian financial activities and encourage compliance with international anti-money laundering standards.
Nikolaychuk’s remarks, made during an interview with Interfax-Ukraine, highlight the importance of international cooperation in combating financial crimes. He emphasized that the potential inclusion of Russia on the EU’s grey list could serve as a deterrent against its evasion of global sanctions. However, the decision ultimately rests with the EU, which has been under pressure to take stronger action against Russia in response to its invasion of Ukraine.
The grey list, managed by the Financial Action Task Force (FATF), subjects countries to increased scrutiny and regulatory measures. While being on the list does not necessarily result in trade restrictions, it can lead to enhanced monitoring of financial transactions and potential penalties for non-compliance. Ukraine’s stance underscores its commitment to holding Russia accountable for its financial activities and ensuring that international sanctions are effectively enforced.