Ukraine-Russia War: FATF suspends Russia's membership, said- Moscow's action against our principles

The Financial Action Task Force (FATF) took major action against Russia on Friday. Explain that FATF has canceled the membership of Russia. FATF shared this information through an official statement.

FATF said in a statement that our objective is to promote the security, safety and integrity of the global financial system, but Russia's actions are against the fundamental principles of FATF. In such a situation FATF has decided to cancel their membership. 

FATF (Financial Action Task Force) suspends membership of Russia

Russian Federation’s actions unacceptably run counter to FATF core principles aiming to promote security, safety & integrity of global financial system. FATF has decided to suspend their membership: FATF statement pic.twitter.com/tHGHFwy0ug — ANI (@ANI) February 24, 2023

FATF expressed sympathy for the people of Ukraine

A year after Russia's illegal and unprovoked attack on Ukraine, the FATF expresses its deepest sympathies to the people of Ukraine, the statement issued after the FATF session held in Paris said. 

FATF said it strongly condemns the Russian aggression against Ukraine. The statement said that barbaric and humanitarian attacks by Russia have intensified over the past year and have targeted critical public infrastructure.

The war has been going on for years

The war between Russia and Ukraine has been going on for a year. On February 24, 2022, Russian soldiers and Ukrainian soldiers came face to face. After this, both the countries executed their respective strategies with the aim of gaining military advantage. 

Initially it appeared that Ukraine would soon lose the war, but Kiev stood firm against Russia and a year later the two countries are still standing opposite each other.