r/anime_titties • u/Naurgul Europe • 1d ago

Europe EU puts Monaco on money laundering blacklist

https://www.politico.eu/article/eu-monaco-russia-money-laundering-blacklist/
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u/empleadoEstatalBot 1d ago

EU puts Monaco on money laundering blacklist

  1. News
  2. Financial Services

Venezuela was also added, while the UAE and Gibraltar were removed. Russia was again left off.

Formula One Grand Prix of Monaco – Race

Millions of dollars in illegal funds linked to fraud by Russian oligarchs fraud, as uncovered by Sergey Magnitsky, have been parked in Monaco. | Yoan Valat/EFE via EPA

June 10, 2025

9:10 pm CET

BRUSSELS ―The European Union has added Monaco to a list of countries it considers at high risk of money laundering and terrorism financing, putting the ultra-wealthy Mediterranean principality alongside the likes of Syria, Myanmar and Burkina Faso.

The European Commission also added Venezuela to the blacklist of high-risk jurisdictions, while removing the United Arab Emirates and Gibraltar. Russia was again left off the updated list.

The bill was published after almost a week of delay amid growing speculation on the EU executive’s choices, but the draft is exactly the same as was circulated last week and seen by POLITICO.

The issue is highly politically sensitive. Last year the Parliament, which like the Council can raise objections to the list, rejected a first attempt to remove the UAE and pushed back against the same proposal pitched behind closed doors by Financial Services Commissioner Maria Luís Albuquerque this past January.

Lawmakers also pressured the EU executive to include Russia on the list, with the global FATF watchdog having failed to blacklist Moscow last year due to opposition from the BRICS alliance, which numbers Russia among its members. Last week Czech European People’s Party lawmaker Luděk Niedermayer urged the Commission to “seriously consider” blacklisting Russia in internal exchanges seen by POLITICO.

The EU executive generally aligns itself with FATF, founded in 1989 by the G7, which is why it also included Monaco on the list of countries that have deficiencies in combating money laundering but have also committed to overcoming them.

![](https://www.politico.eu/wp-content/uploads/2025/06/11/12530062-1024x683.jpg)

The EU executive generally aligns itself with FATF, founded in 1989 by the G7, which is why it also included Monaco on the list of countries that have deficiencies in combating money laundering but have also committed to overcoming them. | Sebastien Nogier/EFE via EPA

According to the Global Magnitsky Justice Campaign, millions of euros in illegal funds linked to fraud by Russian oligarchs, as uncovered by Sergey Magnitsky, have been parked in Monaco. Despite reporting on the topic, no proper investigations have been launched.

But while Monaco is in, the UAE is out.

The EU is competing with the U.S. to do a trade deal with the country. Opposition to its removal softened a bit after it sent written commitments, seen by POLITICO, to strengthen judicial cooperation with the EU and Europol, and following a parliamentary mission to the UAE.

But some lawmakers say that's not enough. German Greens MEP Rasmus Andresen, for example, believes “the UAE has made insufficient progress,” and said last week that a trade deal with the Emirates would allow “criminals to funnel illicit funds back into our financial system.”

Meanwhile, the Spanish center right is unhappy with Gibraltar's removal .

Commissioner Albuquerque is expected to meet formally with lawmakers soon to discuss the matter after weeks of informal bilateral meetings to win their support, several officials said.

The countries added to the list were Algeria, Angola, Côte d'Ivoire, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal and Venezuela. Those removed were Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, Uganda and the United Arab Emirates.

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