Saudi Arabia blacklisted the dirty money of the European Commission | World | New

The European Commission, a branch of the EU, has chosen to add Saudi Arabia to the list of countries threatened by lax controls on terrorist financing and money laundering. In a new report, Panama, Nigeria and four US territories joined the list of Middle Eastern countries. Reacting to the report, Saudi Finance Minister Mohammed al-Jadaan said in a statement issued by Channel News Asia: "Saudi Arabia's commitment to the fight against money laundering and the financing of terrorism is a strategic priority and we will continue to develop and legislate to achieve this goal. "

The Saudi News Agency added: "Saudi Arabia notes with regret that the European Commission has proposed a revised list of" high-risk "countries."

According to the report, Riyadh, the country's capital, is also considered for blacklisting "despite several measures to strengthen its legal framework that have led to increased cooperation with its counterparts".

The new list has seen several EU countries worry about their economic relations with countries such as Saudi Arabia.

Previously, 16 jurisdictions were listed, but the number has now increased to 23.

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The Commission also added Libya, Botswana, Ghana, Samoa, the Bahamas and the four territories of the United States of America: American Samoa, US Virgin Islands, Puerto Rico and Guam.

The states listed originally are Afghanistan, North Korea, Ethiopia, Iran, Iraq, Pakistan, Sri Lanka, Syria, the Trinidad and Tobago, Tunisia and Yemen.

Bosnia and Herzegovina, Guyana, Laos, Uganda and Vanuatu have been removed from the list.

The listing on the list poses financial problems to the EU countries.

EU banks are obliged to carry out additional checks on payments from countries and places on the list.

From there, the EU has one month to approve the list.

If the need actually feels, it may be extended by another.

Vera Jourova, European Commissioner for Justice and Justice, who proposed the list, said at a press conference that she was confident that the list would not be blocked.