Photo credit | Khaleej Times|
Brussels, April 23, 2024 – The European Parliament acted today to keep the United Arab Emirates (UAE) on its grey list.
The Parliament approved a motion for a resolution to object to a Commission regulation that would have removed the UAE and other countries from the EU’s grey list of high-risk third countries with deficiencies in their anti-money laundering and counter-terrorist financing (AML/CFT) regimes.
Tala Mohammed, a scholar of Middle Eastern Studies cites that the Gulf heavyweights—Saudi Arabia and the United Arab Emirates—are benefiting from Sudan’s war, viewing it as a chance to cement their hegemonic status in the Middle East.
The grey list helps protect Europe from the risks associated with illicit financial flows and sanctions evasion.
Anrike Visser, Senior Advisor to The Sentry, said: “The European Parliament today sends a strong signal to countries enabling sanction evasion, illicit arms trade, and conflict gold. The UAE will remain on the EU High-Risk Third Countries list until it can prove that it implements and enforces AML/CFT measures. The EU’s decision is an important action in solidarity with the people in countries like Sudan and Ukraine who have faced massive suffering fueled through the illicit activities of foreign states.”
The Sentry is an investigative and policy organization that seeks to disable multinational predatory networks that benefit from violent conflict, repression, and kleptocracy.
The Sentry aims to alter the warped incentive structures that continually undermine peace and good governance.
Its investigations follow the money as it is laundered from war zones to financial centers around the world.
It provides evidence and strategies for governments, banks, and law enforcement to hold the perpetrators and enablers of violence and corruption to account.
These efforts provide new leverage for human rights, peace, and anti-corruption efforts.
