EU Mulls Adding Saudi Arabia To Money-laundering Grey List

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The European Union is preparing an overhaul of its listing of countries that pose money-laundering risks, an EU confidential document shows, a review that could allow Saudi Arabia to be moved to a new grey list after having been briefly blacklisted.

The EU executive added the oil-rich kingdom in February to its blacklist of 23 jurisdictions that represent a threat to the bloc because of lax controls against terrorism financing and money laundering, but after Saudi pressure the list was struck down by EU states.

Fearful of the economic impact of that listing, European governments led by Britain and France said the EU executive commission had given no chance to Riyadh and other listed states to address concerns.

Read the original article here: uk.reuters.com


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