Russia suspended from FATF: A Dangerous Move
FATF stands for Financial Action Task Force, an international organization established in the year 1989 and based in Paris, France. The organization was established with the motive of preventing money laundering and combating terror financing. It maintains the list of member countries in the form of three lists — Grey List, Black List, and White List.
Countries that are indulged in a small level of terror financing or money laundering are added to the Grey List while Black List is for countries that are involved in big-scale of money laundering and terror financing. Many of you might not understand Money Laundering, so the term is mainly used to describe the illegitimate sources of money that are laundered via several forms like showing investment in shell companies or in the form of donations and finally merged with legitimate sources.
In the case of Russia, this country is neither involved in terror financing nor a case of money laundering has been proved but still, its membership was suspended. Since Western countries have a bigger stake in the organization they can push or throw out any nation in the black/grey list or suspend membership.
International Organizations are meant for greater collaboration, if countries start flexing their muscles and make groups among themselves within an organization, then the whole idea of making the organization successful becomes obsolete. FAFT has nothing to do with international wars or conflicts but still, the organization suspended Russia’s membership. If war and conflict are the criteria then what happened to it when India was facing war with Pakistan in 1999, the USA attacked Iraq in 2003, and Osama Bin Laden was killed by USA special forces on the soil of Pakistan? There are several examples where nobody said against the USA and its allies ever after mass destruction. I am not against or in support of any country but my questions are very clear. The USA shows itself as the flag bearer of democracy but in reality, this country time and again has created havoc on many nations destroying peace and ruining lives.
Some reports even mentioned the USA and Western Nations collectively are trying to kick out Russia from the United Nations too. Already they have kicked out Russia from G8 now G7 and the United Nations Human Rights Commission.
International Organizations are meant for greater collaboration and peace but not for isolating nations and trying to ruin their economy. If such steps are continued, we can expect the countries not to take such prestigious organizations seriously and an approaching World War III in the near future. Now it is up to the nations and their leaders — the kind of future they want to leave for their upcoming generations and history where they’ll be asked with a lot of questions whose answers will remain unanswered.
