By Matt Underwood EU has blacklisted Russia for risk of money laundering, “This will slow down and increase the costs of transactions with Russian banks” Kallas says. Alright, so the EU has finally put Russia on a blacklist due to the risks of money laundering. Seems like a pretty significant move, and the stated goal is to slow down and increase the costs of financial transactions with Russian banks. Considering the ongoing situation, this action feels like a long time coming. It’s hard to ignore the sentiment that this should have happened sooner.
EU has blacklisted Russia for risk of money laundering, “This will slow down and increase the costs of transactions with Russian banks” Kallas says. The immediate question that pops into mind is: How does this differ from what’s already in place? Back in 2022, Russia was largely kicked off SWIFT, the international financial messaging system. The purpose of that was to make financial transactions more difficult and expensive for Russia. So, is this just a reinforcement of existing measures, or is this new blacklist something entirely different? It’s a valid point to wonder about the practical impact of this latest move.
EU has blacklisted Russia for risk of money laundering, “This will slow down and increase the costs of transactions with Russian banks” Kallas says. The comments about the UK raise some interesting questions. Some say the UK has, for quite some time, benefited from Russian assets. This begs the question of how this new blacklist will affect countries that may have been less stringent in the past about Russian money flowing through their systems. Will the UK face any consequences for its previous dealings, or is this simply a forward-looking measure?
EU has blacklisted Russia for risk of money laundering, “This will slow down and increase the costs of transactions with Russian banks” Kallas says. It appears that the reactions are mixed, with some suggesting that the EU has been slow to act. There’s a fair amount of frustration about the perceived delay, and the fact that there might be loopholes being exploited. The sentiment is pretty clear: a complete and immediate isolation of Russia through economic means might be the best course of action.
EU has blacklisted Russia for risk of money laundering, “This will slow down and increase the costs of transactions with Russian banks” Kallas says. There’s a cynicism emerging, it seems. The criticism suggests that the EU, like other entities, may be hesitant to fully disrupt financial flows, potentially for economic reasons. The implication is that even actions such as these can be undermined by a reluctance to fully commit to sanctions due to economic interests.
EU has blacklisted Russia for risk of money laundering, “This will slow down and increase the costs of transactions with Russian banks” Kallas says. The point about energy resources brings a crucial question to the table. If European banks are still trading billions in energy resources directly with Russia, does this not undermine the effectiveness of any other financial sanctions? It seems counter-intuitive to impose restrictions on money laundering while simultaneously facilitating significant trade that benefits the Russian economy.
EU has blacklisted Russia for risk of money laundering, “This will slow down and increase the costs of transactions with Russian banks” Kallas says. There is the question of the speed of these measures, with the comment referencing the date of the war’s initial acts. In the context of a rapidly evolving conflict, the slow pace of implementation is a recurring concern.
EU has blacklisted Russia for risk of money laundering, “This will slow down and increase the costs of transactions with Russian banks” Kallas says. The discussion brings up a more detailed understanding of the sanctions regime. It wasn’t the entire Russian banking system that was cut off from SWIFT in 2022; it was selective. This new blacklist will probably add to the existing complexity of the sanctions landscape.
EU has blacklisted Russia for risk of money laundering, “This will slow down and increase the costs of transactions with Russian banks” Kallas says. There are some who also bring up less savory figures in relation to Trump Tower. The implication is that questionable dealings were allowed to continue for a long time. These observations tie into a broader concern about financial transparency and the potential for illicit funds to find their way into legitimate investments.
EU has blacklisted Russia for risk of money laundering, “This will slow down and increase the costs of transactions with Russian banks” Kallas says. It’s really worth considering the limitations of a purely Western-focused approach. The argument that the “world isn’t just the Western countries” highlights that many nations, especially in the East and South, might not share the same views or concerns about Russia. This could hamper the overall effectiveness of sanctions if those countries maintain significant trade and financial relationships with Russia.