EU Flags Russia as High-Risk for Money Laundering, Terror Finance

The European Commission has added Russia to its list of high-risk countries for money laundering and terrorist financing, following a technical assessment under EU anti-money-laundering rules.

On July 8, 2025, the commission adopted Delegated Regulation (EU) 2025/1393, launching a review of countries with suspended membership in the Financial Action Task Force (FATF), including Russia.

The move follows growing pressure on Moscow after the FATF suspended its membership in 2022 over the full-scale invasion of Ukraine.

After Russia was added to the high-risk list, EU entities covered by anti-money-laundering rules must apply heightened scrutiny to transactions involving Russia, the commission said in a press release.

The regulation becomes effective after a one‑month review by the European Parliament and Council and is extendable by another month. The commission will continue monitoring developments in all listed countries, the press release says.

“This summer, the Commission pledged to review the anti-money laundering gaps in countries with suspended FATF membership,” Maria Luís Albuquerque, the EU commissioner for financial services, was quoted as saying.

“After completing its detailed assessment, it has decided to add Russia to the EU’s list of high-risk jurisdictions, signaling its determination to protect the integrity of the EU financial system,” she added.

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Kyiv pushes for Russia’s FATF grey list inclusion

Meanwhile, Ukrainian authorities, led by the National Bank of Ukraine (NBU), are pushing for Russia to be placed on the FATF grey list of jurisdictions under increased monitoring.

The FATF sets global standards to combat money laundering and terrorist financing.

However, the FATF’s suspension of Russia does not place it on either the grey list or the blacklist. Those lists trigger formal monitoring or call-for-action measures, and Kyiv has been urging the FATF to add Russia to the grey list.

NBU First Deputy Governor Sergiy Nikolaychuk told Interfax‑Ukraine that getting Russia onto the grey list remains a top priority for the NBU, and that Kyiv continues to build its case internationally.

“This will allow for stricter institutional controls over financial transactions involving Russian elements in the European Union and give an additional push to our other international partners,” he said.