Financial Action Task Force suspends Russia’s membership

In the statement issued by the FATF, it was recorded that it is deeply saddened by the great loss of life and destruction suffered by the Ukrainian people due to the “illegal and unjustified” invasion of Russia.

In the statement, which states that Russia’s attacks on Ukraine were strongly condemned, it was emphasized that the FATF supported the United Nations General Assembly resolution demanding that Russia withdraw all military forces from Ukrainian territory immediately, completely and unconditional.

The statement also expressed concern over news of Russia’s arms trade and “malicious” cyber activities with United Nations-sanctioned countries.

Noting that Russia’s actions are contrary to the basic principles of the FATF, which aims to enhance the safety, security and integrity of the global financial system, it was noted that these actions also violated the commitment to international cooperation and mutual respect agreed by FATF members. .

In the statement, it was stated that Russia’s FATF membership was suspended in this context, while Russia’s obligation to implement FATF standards continued.

Noting that the FATF will monitor the situation and make an assessment to remove or change the restrictions on plenary meetings, the statement called on authorities to be vigilant against threats to the integrity and security of the international financial system emanating from Russia-Ukraine. . War.

THE UNITED STATES APPRECIATED THE FATF DECISION

In her statement on Russia’s suspension of FATF membership, US Treasury Secretary Janet Yellen stated that the US appreciated the FATF’s decision.

Stating that Russia’s disregard for Ukraine’s sovereignty and territorial integrity contradicts FATF’s core values, Yellen said: “In addition, Russia’s relationships with suppliers of last resort such as Iran and North Korea, efforts driven by by the government to avoid international sanctions and export controls and its other activities, such as cybercrime, make Russia a haven for illicit finance that the FATF fights against.” she performed her assessment. (AA)