Germany Ends Economic Sanctions against Ukraine

07.03.2003 07:29

The German government yesterday announced that it was withdrawing economic sanctions against Ukraine. The decision was confirmed to Rosbalt's correspondent by the German Embassy in Ukraine. According to official sources, the German government believes that Ukraine has begun to fight money laundering fairly effectively and has already brought its financial legislation inline with European norms.

Berlin introduced economic sanctions against Ukraine at the end of last year on the recommendation of the Financial Action Task Force on Money Laundering (FATF). Ukraine in currently on FATF's 'black list.'

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