The European Union may soon consider adding Russia to its blacklist of high-risk third countries for money laundering and terrorist financing, announced European Commissioner for Financial Stability, Financial Services, and the Capital Markets Union, Mairead McGuinness, during a session in the European Parliament. She noted that current EU anti-money laundering regulations govern the procedures for such listings.

The proposal has faced criticism from Bulgaria's Rada Laykova of the Europe of Sovereign Nations group, who argued that the rationale behind these actions is "highly unconvincing." According to Laykova, the new EU anti-money laundering and anti-terrorist financing measures seem more like a tool to limit financial transactions with countries that do not align with Western policy. "In this case, that country is Russia. The EU is increasingly transforming into a self-enclosed Western bloc," she asserted.

Bulgarian Emil Radev, a member of the European People’s Party, pointed to the impact of Russia’s war in Ukraine, which he argued has led to a surge in arms trafficking, large-scale money laundering, terrorist financing, and sanctions evasion. "These factors give grounds for the European Commission to act on including Russia in the high-risk blacklist due to its strategic vulnerabilities," Radev explained. He noted that while the Financial Action Task Force (FATF) has previously debated the issue, a decision was blocked by BRICS countries’ votes, urging the European Commission to independently assess the risks posed by Russia and implement suitable countermeasures.

Radev referred to FATF, an international body committed to combating money laundering and terrorist financing, of which the European Commission is also a member. He recommended that the European Commission move forward with a comprehensive risk assessment of Russia's potential threat to the EU’s financial security, suggesting the issuance of a delegated act if necessary.