Russia Ukraine war- Action taken on Russia regarding Ukraine war, now FATF suspends membership

Russia-Ukraine war The global financial crime watchdog Financial Action Task Force (FATF) has suspended its membership in Russia. He says that this is against the basic principles of the institution.

FATF has suspended its membership in Russia.

Highlights
1. FATF takes action on Russia and excludes it from the list of member countries
2. Said- went beyond the basic sentiments of the organization and attacked Ukraine
3. America also made the sanctions more strict, and the war completed one year

Paris. The Financial Action Task Force (FATF), the global financial crime watchdog, said on Friday that Russia’s attack on Ukraine is not acceptable. This is contrary to the institution’s core principles, which aim to promote the safety, security and integrity of the global financial system. Suspended the country’s membership for Russia’s ‘illegal and unprovoked’ military attack. This information was given in an official statement on the completion of one year of the Russia-Ukraine war.

In a statement issued after the FATF session held in Paris, it has been said that FATF expresses deep sympathy towards the people of Ukraine. Those people are suffering from the fierce attack of Russia for the last year. The global body that monitors terrorism financing said it strongly condemns the Russian offensive against Ukraine. The statement said the “barbaric and humanitarian attacks” by Russia have intensified over the past year and have targeted critical public infrastructure.

America again imposed sanctions and bans on Russian banks, dealers and companies
Here, America has announced to impose of new sanctions on Russian banks, companies and citizens. Russia’s metals and mining sector has also been targeted in the US Treasury Department’s “most significant sanctions action ever”, according to a statement. This preventive action has been taken in coordination with G-7 allied countries. Due to this, sanctions have been imposed on about 250 people and companies and arms dealers.

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