June 2022 – The global community is considering various legal and other reactions to the unprovoked, unjustified, and aggressive war launched by the Russian Federation and its satellites against Ukraine. Among potential steps on the table are the inclusion of the Russian Federation to the Black List being administrated by the Financial Action Task Force (the FATF) and recognition of the Russian Federation as a state sponsoring terrorism by the Government of the United States of America. One of them or a combination of these actions could become a firm and far-reaching countermeasure targeting financial stability of the Russian Federation, its satellites, and their war machine.
In the second article, our experts Oleksandr Kurdydyk, Partner, Head of Banking, Energy & Projects in Kyiv, Co-Head of the firm-wide Energy & Natural Resources and Head of Infrastructure & Projects services, and Ed Olentsevych, Associate, throw some light on the criteria and ground for the inclusion of a country in the FATF Blacklist, as well as the procedure and potential consequences of such countmeasure by FATF.
To re-sync, the first article is available HERE and deals with more general aspects of the topic.
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