EU COMMISSION “TO DESIGNATE UAE AS HIGH-RISK COUNTRY OVER RUSSIA SANCTIONS EVASION”

On 27 October, in what was described as a “scooplet”, Politico reported that the European Commission is planning to designate the UAE as a high-risk country for money laundering and add the UAE to the EU list of high-risk third countries.  The move is said to have gained urgency as many Russians have transferred assets to the UAE to evade sanctions.

https://transparency.eu/open-letter-uae-anti-money-laundering-grey-list

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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