Risks of Russia’s Inclusion in the FAFT «Black» or «Grey» List

Aleksandra A. Koval – Researcher, Deputy Head of the Russian Center for Competence and Standards Analysis, Russian Presidential Academy of National Economy and Public Administration; Researcher, Head of the «Russia-OECD WABT» Club, Institute of International Economics and Finance of the Russian Foreign Trade Academy (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Antonina D. Levashenko – Researcher, Head of the Russian Center for Competence and Standards Analysis, Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the context of unfriendly policies of a number of foreign countries towards Russia, there are risks of inclusion of the country in the FATF «black» or «gray» lists. Inclusion of a jurisdiction in such lists implies the need to conduct enhanced due diligence procedures in case of transactions with its residents and has a significant negative impact on capital inflows to such a country. If Russia was to be included in one of the FATF lists, a reduction in Russian foreign trade of up to 10% could be expected.

Key words: FATF, AML, FATF blacklist, FATF greylist.

JEL-codes: F51, F53, F55, K33.