Saudi Arabia responds to the EU blacklist

The EU has placed Saudi Arabia on a recently launched blacklist of countries that do not do a good enough job against terrorist financing and money laundering.

– Saudi Arabia believes it is regrettable that the EU Commission has proposed this revised list of “high-risk” countries, a statement in the Saudi Arabian news agency SPA said.

Saudi Arabia authorities argue that the country has implemented several measures to strengthen cooperation with the country’s counterparts.

The US is also rejecting the blacklist. The country’s finance department says US businesses do not have to relate to the list in their work against money laundering. The United States as a country is not on the list, but US territories such as the Virgin Islands and Puerto Rico are blacklisted.

The list consists of 23 countries, states the European Commission. The goal of the blacklist is to better protect the EU financial systems against risk. Banks and other EU institutions are now required to closely monitor the trade in the blacklisted countries.

(© NTB)

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