Friday 1 March 2019

EU blocked on dirty money blacklist that angered Saudis, US | Financial Times

EU blocked on dirty money blacklist that angered Saudis, US | Financial Times:

Brussels has suffered a humiliating defeat in its plans to place Saudi Arabia and four US territories on a money laundering blacklist after virtually unanimous opposition from EU member states.

EU diplomats said 27 of 28 countries, led by the UK, France, Germany, and the Netherlands, blocked publication of the list, which has also prompted fury in Washington and Riyadh.

The strength of opposition means the European Commission will have to rethink its draft list of 23 non-EU territories deemed to be failing in fighting money laundering.

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