The European Union added Monaco to the list of countries it considers to have a high risk of money laundering and terrorism funding, placing the Mediterranean prince next to countries such as Syria, Myanmar and Burkina Faso.
The European Commission also added Venezuela in black, and removed the United Arab Emirates and Gibraltar. Russia, once again, was not included in the new updated list.
OR communication It was delayed almost a week, amid growing visuals for Commission choices.
Theme with intense political charge
As Politico notes last year, the European Parliament – like the Council, can bring objections – rejected the initial attempt to remove the UAE from the list and resisted the same proposal that the Commissioner Louis Louise was put in place. MEPs have also pressed the Commission to include Russia on the list, due to reactions from the BRICS to which Russia belongs. Last week, EPP Czech MEP Luděk Niedermayer called on the Commission to “seriously consider” the black list for Russia, according to documents cited by Politico.
The European Commission is usually aligned with the decisions of the FATF Financial Action Team, which was founded in 1989 by the G7 team. So it has happened now, including Monaco into the list of countries with deficiencies in the fight against money laundering, though they are committed to dealing with them.
While Monaco was added to the list, the UAEs were removed. The EU is competing with the US to conclude a trade agreement with the Emirates. The objections to their removal have partially retreated when the UAE sent written commitments to strengthen judicial cooperation with the EU and Europol, as well as a mission of MEPs to the country.
Some MEPs, however, find the progress of the UAE inadequate. Greens MEP Rasmus Andresen said that “the UAE has not made sufficient progress” and noted that a trade agreement with the Emirates would allow “criminals to channel illegal funds back into our financial system”.
At the same time, the Spanish center -right space expressed dissatisfaction with the removal of Gibraltar from the list.
Countries and Removals from the list
The following countries were added to the high -risk list: Algeria, Angola, Campus Coast, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal and Venezuela.