NBU calls on FATF International Group to exclude Russia from its membership

This is reported on the website of the National Bank of Ukraine with reference to the appeal to the FATF signed by the head of the NBU Andrii Pyshnyi. 

"The membership of a terrorist state in the FATF calls into question the reputation of this organization, which was created on the basis of the principles of international cooperation and mutual trust. It is impossible to conduct a dialogue based on trust and mutual respect for international law and the FATF Standards with a terrorist state. Conducting a dialogue is only possible after it stops financing terrorism and threats to use weapons of mass destruction," the NBU emphasizes.

The National Bank of Ukraine appealed to the Financial Action Task Force on Money Laundering with a call at the next Plenary Session on October 18-21 to consider the issue and make a decision on the exclusion of the Russian Federation from among FATF member countries and to deprive it of observer status in these bodies, as well as to include the Russian Federation in the FATF blacklist.

"Today, the whole world has indisputable evidence that the current Russian regime despises and violates any internationally recognized principles and obligations in order to achieve its criminal goals. In particular, this was emphasized in the joint statement of the leaders of the G7 countries dated October 11, 2022. Despite international sanctions, the Russian Federation continues to cooperate with jurisdictions included in the FATF blacklist, as well as with terrorist organizations," the message reads.

The NBU emphasized that the complete exclusion of Russia from the FATF member countries is the most principled, adequate and timely step: "It is unacceptable to delay and remove from the agenda the issue of including the Russian Federation in the FATF blacklist by using formal procedural arguments and other possibilities."