Group of developing financial measures to combat money laundering (Fatf) at a plenary meeting on Friday decided to suspend Russia’s membership.
“The ongoing and intensifying aggressive war of the Russian Federation against Ukraine contradicts the FATF principles for strengthening the security, reliability and integrity of the world financial system, as well as commitment to international cooperation and mutual respect, on the basis of which Fatf members agreed to fulfill and maintain Fatf standards as a result. Fatf plenary meeting has suspended the membership of the Russian Federation, ”the group’s website reports.
In the message, Russia’s invasion of Ukraine is called illegal, unprovided and unreasonable, and condolences are given to the Ukrainian people in connection with the death of people and the destruction of Ukrainian infrastructure.
“, after the statements made since March 2022, FATF again states that all jurisdictions should show vigilance against current and arising risks from bypassing measures taken against the Russian Federation in order to protect the international financial system,” the report said in a statement .
In a meeting at the Fatf headquarters in Paris, delegates from more than 200 jurisdictions of the global network took part.