NBU lobbies for Russia to be added to EU's 'grey list'

The National Bank of Ukraine (NBU) is actively lobbying for Russia to be included in the European Union's "grey list" of countries with inadequate money laundering controls, First Deputy Governor of the NBU Serhiy Nikolaychuk said in an interview with Interfax-Ukraine.

"This will allow us to establish stricter institutional boundaries for controlling financial transactions with Russian elements in the European Union and provide an additional impetus for our other international partners," he said.

Nikolaychuk also stressed that the National Bank continues to seek the inclusion of the Russian Federation in the "black list" of the Group on Combating Money Laundering (FATF).

"Including Russia in the FATF "black list" has been one of the priorities of the chairman (Andriy Pyshny - IF-U) since the beginning of his term. He always raises this topic at meetings with central bankers. We at the NBU are constantly working to expand the arguments for the need for such a decision," the first deputy said.

He recalled that the results of the last plenary session of the FATF highlighted the risks to the international financial system, after which the largest banks in India began to refuse to serve companies with a Russian footprint.

In early June of this year, the Financial Times, citing European Commission officials, reported that the European Union was considering adding Russia to its "gray list," which could increase financial pressure on Moscow. It was said that such a decision is supported by the majority of members of the European Parliament, but it has not yet been finally adopted.