Russia to Become FATF Member?

President Vladimir Putin of Russia held a conference with Cabinet members in the Kremlin Monday. He stated that this country faced the task of becoming a member of the Financial Action Task Force (FATF). Vladimir Putin noted that Russia had been already admitted to this organisation as an observer.

The head of state recalled that several days ago Russia had been excluded from the so-called "black lists" of the FATF. Putin called this FATF decision "a result of concerted actions of the government and the State Duma." "We have not only adopted a full package of laws, but also established a financial monitoring committee and launched a mechanism for its operation," the president stated.

However, the head of state stressed, "this does not mean that starting from this moment we should tighten screws in some special way." "Vice versa, we should move forward along the way of currency liberalisation," the president said.

Vladimir Putin is sure that Russian citizens should enjoy rights no less than in any other country.

The Russian leadership will strive to achieve more transparency in actions of both citizens and legal entities and the government in the financial sphere, the president said.