Ukraine urges financial crime watchdog to expel Russia

Ukraine urges financial crime watchdog to expel Russia

KYIV (Reuters) – Ukraine issued a new appeal on Wednesday to the global financial crime watchdog the Financial Action Task Force (FATF) to exclude Russia and blacklist it as a high-risk jurisdiction, the finance ministry said.

Russia is a member of the Paris-based FATF which will be holding plenary and working group meetings on February 20-24. Ukraine is not a member.

A year after Russias invasion of Ukraine, Ukrainian officials have intensified appeals to their Western partners to tighten sanctions on Moscow to limit its ability to finance the war.

“As we near the first anniversary of Russias unprovoked and brutal war of aggression against Ukraine, it is time for both reflection and actions,” Finance Minister Serhiy Marchenko said in a statement.

“FATF designating Russia as high risk will choke (Russian President Vladimir) Putins ability to finance his illegal and unjustified brutal war and insulate our economic systems from Russian malfeasance. We must stop Russia to protect not just Ukraine, but the entire global financial system.”

Ukrainian Central Bank Governor and other government officials issued similar appeals to FATF last year.

(Reporting by Olena Harmash, Editing by Timothy Heritage)