The EU intends to add Russia to the “blacklist” for money laundering, reports Politico.

The European Union is considering the option of including Russia in the list of countries with a high risk of money laundering and terrorism financing. This is reported by Politico, citing two European officials and a document provided by them. The topic is being discussed against the backdrop of the war in Ukraine and increasing control over financial flows related to Russian structures.

The initiative arose after Russia was effectively excluded from participating in the Financial Action Task Force on Money Laundering. The inclusion in the “blacklist” was then blocked by BRICS countries, leading to a pause in decisions on international platforms. However, the EU has moved to its own risk assessment infrastructure.

This year, the Union launched the creation of an agency that will conduct investigations in the field of financial transparency. The organization has been granted the authority to independently conduct audits and form a list of countries that pose a threat to the financial security of the region.

According to the draft document, Russia should be included in the list of countries with an increased level of risk. The agency is required to complete the audit by the end of 2025. Discussions are already underway, and for European banks, possible changes mean tightening all procedures for working with Russian clients and companies.

If the decision is made, institutions will have to enhance due diligence for operations related to Russian counterparties, regardless of the size of the transaction. In case of non-compliance with the requirements, banks will have to revise their internal protocols to reduce the likelihood of financial violations and claims from regulators.

This adjustment of approaches shows that the EU is moving towards its own regulatory model, separate from international platforms where political blocs hinder decisions on countries from authoritarian alliances. This could be a step towards a systematic review of financial ties with Moscow and an additional signal of increasing risks for the European market. These are the processes we monitor and explain within the framework of NAnews — News of Israel | Nikk.Agency, so that readers can see a broader picture of decisions affecting global security.