The Ministry of Finance of Ukraine and the State Financial Monitoring Service of Ukraine formally called on the Financial Action Task Force (FATF) to blacklist Russia due to its strengthening ties with North Korea and Iran. The request emphasized that Russia's cooperation with these nations undermines global financial security and violates FATF principles.

The Ministry of Finance and State Financial Monitoring Service called on FATF to blacklist Russia.

Russia is using North Korean ballistic missiles and ammunition in Ukraine.

Russia is using Iranian-made UAVs in its attacks against Ukraine.

Russia created a parallel payment system to help Iran bypass SWIFT.

Myanmar is expected to join the Russian payment system at the end of February 2024.

Russia's increased cooperation with Iran and North Korea has given them a backdoor entry into the global financial system. To address this, FATF must blacklist Russia and alert the international financial system about the risks posed by Russia.

Inaction will lead to a more unsafe global economy and erode the achievements that the FATF and its members have made so far in the fight against money laundering and financing of terrorism and proliferation.