EU states block blacklisting Saudi, Panama over dirty money
07 Mar 2019

The 28 member states of the European Union all backed a decision on Thursday to reject a proposal from the EU executive to add Saudi Arabia to a blacklist of countries suspected of being lax on terrorist financing and money laundering.

The decision comes after pressure from Riyadh and other listed jurisdictions not to be blacklisted.

EU states said in a statement the unanimous decision was taken because the European Commission’s proposed list was not established in a transparent process that encouraged countries to take action while also respected their right to be heard.

By Francesco Guarascio and Alastair Macdonald, Reuters, 7 March 2019

Link to Reuters

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One Response to “EU states block blacklisting Saudi, Panama over dirty money”
Alan

Alan March 8, 2019

So, the EU are happy to look at adding the Crown Dependencies to their naughty lists, despite the fact they all have better reviews from the International Inspectors than nearly all of the EU countries but then after pressure from one of the most secretive and highest risk countries decide not to add them. I suspect those EU members making this decision have no knowledge about financial crime per se!

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