International
pti-PTI
New
Delhi,
Oct
21:
Russia
has
been
barred
from
participating
in
future
projects
of
global
terror
financing
and
money
laundering
watchdog
Financial
Action
Task
Force
(FATF).
Addressing
a
press
conference
in
Paris,
FATF
chairperson
T
Raja
Kumar
said
the
move
comes
in
the
wake
of
Moscow’s
invasion
of
Ukraine.
Kumar
said
Russia’s
actions
continued
to
violate
FATF’s
core
principles,
which
aim
to
promote
security,
safety
and
integrity
of
financial
systems.
“As
a
result
of
Russia’s
continuing
actions,
the
FATF
has
decided
to
impose
additional
restrictions
on
the
country’s
remaining
role,
including
by
barring
them
from
participating
in
current
and
future
FATF
projects,”
he
said.
Russia
is
also
barred
from
participating
in
meetings
of
the
FATF-Style
Regional
Bodies.
“These
measures
expand
on
the
actions
that
the
FATF
took
in
June,
which
stripped
Russia
of
all
its
leadership
roles
among
other
restrictions,”
Kumar
said.
The
FATF
will
continue
to
monitor
the
situation
and
consider
at
each
of
its
plenary
meetings
whether
grounds
exist
for
lifting
or
modifying
these
restrictions.
He
said
that
following
the
statements
issued
in
March,
April
and
June
2022,
the
FATF
reiterates
that
all
jurisdictions
should
be
vigilant
to
emerging
risks
from
the
circumvention
of
measures
taken
against
Russia
in
order
to
protect
the
international
financial
system.