KYIV, UKRAINE, November 6, 2024 /EINPresswire.com/ -- The International Anti-Money Laundering Group (FATF) did not include Russia in its “black” list at its last plenary meeting, despite numerous requests from Ukraine since April 2022.

Adding the country to this list would significantly limit its opportunities for international trade and financial transactions, and any transactions with its residents would be subject to increased control and monitoring by financial institutions around the world.

FATF measures have already affected the economies of countries such as Iran, North Korea and Myanmar, severely limiting their partners’ ability to transact due to financial security risks.

Alona Lebedieva, the owner of the Ukrainian multi-sector industrial and investment group Aurum Group, emphasizes the importance of this event for global security: “Despite the numerous calls and statements of the leaders of the free world, we see that political interests still prevail. This allows the aggressor to continue his activities without due responsibility, creating serious risks not only for Ukraine, but also for the whole world.“

Lebedieva emphasizes that the FATF has all the necessary tools to effectively limit the economic capacity of countries that violate international law and threaten global stability. She calls on the international community to mobilize political will: “If the FATF shows the necessary determination and decides to include Russia in the “black list”, this will not only limit its economic opportunities, but will also send a clear signal to partner countries that aggressive actions are unacceptable on the world stage and protect financial systems of states that adhere to the principles of legality and security.“

Lebedieva’s position reflects frustration with political compromises that stand in the way of decisive action against Russia. She adds: “FATF’s reluctance to take tougher action only reinforces the aggressor’s sense of impunity and allows him to expand his influence around the world. It is time for concrete action: the international community must reconsider its approach and recognize that the security of financial systems is not possible without strong sanctions against countries that contribute to instability.“

Currently, three countries are on the FATF “black list”: North Korea, Iran and Myanmar. Founded by the G7, the FATF publicly condemned Russia’s aggression in 2022 as unacceptable and contrary to its core principles. In February 2023, the FATF suspended Russia’s membership indefinitely, although more stringent measures have not yet been taken.

Alona Lebedieva
Aurum Group
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