EU mulls adding Russia to money laundering watchlist

The Financial Times reports the information, citing information from European Commission officials.

European Commission officials confirmed they are discussing adding Russia to the “gray list” of countries with inadequate anti‑money‑laundering controls, and most Members of the European Parliament back the move, though no final decision has been made yet.

“There is strong support for listing Russia,” said German MEP Markus Ferber.

The announcement was expected this week, but the Commission postponed it “for administrative and procedural reasons.” A Commission spokesperson said the decision is now slated for early next week.

According to the outlet, if Russia is added to this list, it will suffer reputational damage and force financial institutions to conduct extra checks on transactions involving individuals or organizations from the listed territories, leading to higher costs.

The EU’s “gray list” generally matches the list compiled by the Financial Action Task Force (FATF), an intergovernmental body established to combat terrorism financing and money laundering.

Although Russia’s FATF membership was suspended a year after its invasion of Ukraine, several countries are expected to block attempts to add Russia to the FATF list.