EU Puts Russia on High-Risk Money-Laundering List as Rules Take Effect

Overview

• EU foreign ministers confirmed the Council’s decision on January 29, bringing the listing into force immediately.
• EU foreign policy chief Kaja Kallas said the measure will slow operations with Russian banks and raise the cost of transactions.
• Banks and businesses must provide more documentation on beneficial ownership and the origin of funds, with certain deals subject to approval by the EU’s anti–money-laundering authority AMLA.
• Russia now sits on the EU high-risk third‑country list alongside North Korea, Iran and Afghanistan.
• The step follows FATF’s 2023 suspension of Russia’s membership, drew objections from several BRICS governments, and analysts warn of tighter investment channels and strained transit and payment flows including via Kaliningrad.