The Ministry of Finance of Ukraine and the Financial Monitoring Service of Ukraine has urged the Financial Action Task Force (FATF) to place Russa on the blacklist as a high-risk jurisdiction at its plenary meetings in Paris on 19-23 June. 

In February, the FATF suspended Russia's membership and called on all jurisdictions "to remain vigilant of threats to the integrity, safety and security of the international financial system arising from Russia's war against Ukraine."

At the time, the FATF expressed concerns over reports of arms trade between Russia and UN-sanctioned jurisdictions, as well as "malicious cyber-activities" emanating from Russia.

The minister of finance of Ukraine Sergii Marchenko has also officially addressed ministers of finance and other ministries responsible for anti-money laundering policy in FATF member and observer states, requesting them to support Russia's blacklisting "for grave violations of the FATF standards". 

Marchenko said: "Ukraine urges the FATF to blacklist Russia to safeguard the global financial system. Russia continues to demonstrate total disregard for the global rule of law, and the risks it poses to international financial security are increasing. A state violating the FATF standards, regardless of its size, political influence, or contribution to the global economy, must be held to account and blacklisted." 

He added: "Russia places nuclear weapons in neighbouring Belarus, trades weapons with blacklisted Iran, finances terrorism through Wagner and other proxies, cooperates with North Korea on its nuclear programme, launches massive cyber-attacks on Ukraine and other states, and uses crypto to launder dirty money. These are attacks on global security, which the FATF was created to help counter."