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Saudis Join With US to Kill EU Effort to Create Dirty Money Blacklist
Key Excerpts from Article on Website of CommonDreams.org


CommonDreams.org, March 1, 2019
Posted: March 11th, 2019
https://www.commondreams.org/news/2019/03/01/saudis-join-us-...

The United States and key ally Saudi Arabia saw their lobbying efforts pay off on Friday after the European Commission's proposed dirty money blacklist - which included the oil-rich kingdom and several American territories - fizzled. "The Americans fell on us like a tonne of bricks," an anonymous Brussels official [said]. The effort "to protect the integrity of the E.U. financial system," the commission said last month, included blacklisting 23 territories that had "strategic deficiencies in their anti-money laundering and counter-terrorist financing frameworks." They included American Samoa, Guam, the U.S. Virgin Islands, and Puerto Rico as well as Saudi Arabia. However, as the Wall Street Journal reported Friday, "European governments, under pressure from Washington and Riyadh, have refused to endorse" the list. "The rejection of the governments is a farce at the expense of security," declared Sven Giegold, Member of the European Parliament (MEP) from Germany. "Governments must ask themselves whether they are on the side of autocrats or their citizens!" As Politico reported, the list, which would need the backing of the European Parliament and Council of the E.U. to go into effect, "is politically sensitive because it has teeth. E.U. banks that handle payments connected to the blacklisted countries and territories would have to conduct 'enhanced due diligence' on any cash that moves to and from the E.U. and the blacklisted jurisdictions."

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the financial industry.


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