Overview
- The European Commission published its decision on December 3 to place Russia on the EU list of third countries posing a high risk of money laundering and terrorist financing.
- Inclusion will impose significantly tighter controls on dealings with Russian entities, including comprehensive transaction checks, expanded documentation on beneficiaries and fund origins, and additional approvals by AMLA commissioners.
- Experts say the designation places Russia’s standing alongside countries such as Iran and North Korea, signaling elevated reputational risk for partners.
- Russia’s financial watchdog, Rosfinmonitoring, condemned the decision as politicized and said the country remains ready for professional cooperation on AML/CFT matters.
- The step follows FATF’s 2023 suspension of Russia, with Politico reporting AMLA will help compile the EU list from July 2027, and coverage noting opposition from India, Brazil, China and South Africa.