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FATF suspends Russia's membership

"Russia's aggressive war against Ukraine contradicts the principles of the organization."

FATF suspends Russia's membership

The Financial Action Task Force (FATF) has decided to suspend Russia's membership in the organization, the head of the National Bank of Ukraine, Andriy Pyshnyy, has announced.

"The FATF has decided to suspend Russia's membership. Here is the resolution: the ongoing and intensifying aggressive war of the Russian Federation against Ukraine contradicts the FATF principles of promoting the safety and integrity of the global financial system and the commitments to international cooperation and mutual respect that FATF members have agreed to implement and uphold. As a result, today the FATF Plenary Session suspended Russia's membership," he said Facebook.

Last May, FATF suspended Russia from influencing decision-making in the organization and said it was considering adding Russia to the "blacklist" of terrorist countries.

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