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Brussels proposes adding Saudi Arabia to EU money laundering blacklist

AFP  |  Brussels 

The Commission on Wednesday proposed adding seven countries including to the EU's money-laundering blacklist of governments that do too little to thwart the financing of terrorism and organised

The move comes as tensions between and capitals are heightened over the murder last year of the at the

The proposal must now be approved by the Parliament and the 28 member states, with and Britain against the new list.

The new countries targeted by the commission, including and Panama, would join another 16 already on this register -- such as Iran, Iraq, Pakistan, and

Inclusion on the list does not trigger sanctions, but it does oblige European banks to apply tighter controls on transactions with customers and institutions in those countries.

"We have put in place the highest standards in the world in the fight against money laundering," said European

"But we must ensure that dirty money from other countries does not end up in our financial system," she told a press conference at the plenary session in

"Dirty money is the driving force behind organised and terrorism," Jourova continued, urging countries on the list to "quickly remedy their shortcomings".

A said objections to the new list were not linked to fallout from the Khashoggi murder and a desire to appease

There is not "an opposition to the addition of a particular country", but concerns over the "methodology" used.

MEP Eva Joly, a former investigating judge, welcomed the new list but suggested the commission "publish the country assessments in order to increase the transparency of the process and avoid accusations of political bargaining."

European countries such as or the should also be on the list, she said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 19:41 IST
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