EU Considers Blacklisting Russia for Money Laundering and Terrorist Financing Risks

The European Union may soon consider adding Russia to its blacklist of high-risk third countries for money laundering and terrorist financing, announced European Commissioner for Financial Stability, Financial Services, and the Capital Markets Union, Mairead McGuinness, during a session in the European Parliament. She noted that current EU anti-money laundering regulations govern the procedures for such listings.

The proposal has faced criticism from Bulgaria's Rada Laykova of the Europe of Sovereign Nations group, who argued that the rationale behind these actions is "highly unconvincing....