FATF suspends Russia’s membership

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 one 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 imposes sanctions again, ban on Russian banks, dealers and companies
Here, America has announced to impose new sanctions on Russian banks, companies and citizens. Russia’s metals and mining sector has also been targeted in “the most significant sanctions action ever” by the US Treasury Department, according to a statement. This restrictive 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.