EU calls on members not to bow to foreign pressure when legislating

The European Parliament yesterday adopted a resolution calling on member states not to give in to diplomatic pressure to boycott a blacklist of 23 countries with poor anti-money laundering regulations; including Saudi Arabia.

Last week, member states refused to include 23 countries on an updated blacklist including Saudi Arabia, Iraq and Iran.

According to a Reuters report issued last month, pressure has been exerted not to include Saudi Arabia on the blacklist.

Parliament stressed that the Commission should not be pressured to undermine the EU institutions’ ability to fight money laundering and to counter terrorist financing.

READ: Saudi pushes EU to scrap money-laundering blacklist

The Commission will now need to present another list, identical or amended, and the European Parliament and the Council will have one month to approve or oppose it.