Audio By Carbonatix
The European Commission added Saudi Arabia, Panama, Nigeria and other jurisdictions to a blacklist of nations that pose a threat because of lax controls on terrorism financing and money laundering, the EU executive said on Wednesday.
“The European Commission adopted today a list of 23 third countries with weak rules against money laundering and terrorism financing. I would like first to explain the context and our main objectives. The EU must not be a destination for illicit money. The EU financial system must not serve as a vehicle for money laundering and must not serve as an instrument for financing crime including terrorism,” said Vera Jourova, EU commissioner for justice and gender equality.
The move triggered criticism from several EU states worried about their economic relations with the listed states, notably Saudi Arabia.
Despite pressure to exclude Riyadh from the list, the commission decided to add the kingdom to a list that now includes 23 jurisdictions.
The Commission also added Libya, Botswana, Ghana, Samoa, the Bahamas and the four United States territories of American Samoa, U.S. Virgin Islands, Puerto Rico and Guam.
Apart from reputational damage, inclusion on the list complicates financial relations with the EU with the bloc’s banks having to carry out additional checks on payments involving entities from listed jurisdictions.
The 28 EU states now have one month, which can be extended to two, to endorse the list. They could reject it by qualified majority.
Latest Stories
-
Photos: Ablakwa meets Ghanaian community in Pretoria
2 minutes -
Rising fuel costs pose risk to Ghana’s inflation outlook – Deloitte
9 minutes -
T-bills: Government records 5.9% undersubscription, but interest rates decline marginally
11 minutes -
Government will not tolerate shoddy road projects – Roads Minister
50 minutes -
25/26 GPL: Vision end campaign with win over Aduana
56 minutes -
GPL 2025/26: Young Apostles survive relegation with win over SamartexÂ
1 hour -
Gunmen allegedly kidnap teenager at Kabulya near Bimbilla, demand ransom
1 hour -
Fernandes breaks assist record as Brighton land Euro spot despite loss
1 hour -
Sunderland reach Europa League at Chelsea’s expense
1 hour -
Spurs beat Everton to secure Premier League survival
1 hour -
Xenophobia: Ghana to receive first batch of evacuees from South Africa on May 27
2 hours -
GPL 2025/26: Swedru All Blacks stun Kotoko in dramatic final-day comeback
2 hours -
Slump continues as cedi becomes worst-performing currency in sub-Saharan Africa in 2026
3 hours -
Petroleum Commission hails 7 Eleven Energy Services’ indigenous bolt and nut plant as sign of local content growth
3 hours -
Keta MP offers relief to Afiadenyigba SHS after fire outbreak
3 hours