Motilal Oswal
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Motilal Oswal
Economy

EU adds Saudi Arabia to dirty-money blacklist, upsets Britain

Updated : February 14, 2019 08:00 AM IST

The move is part of a crackdown on money laundering after several scandals at EU banks but has been criticised by several EU countries including Britain worried about their economic relations with the listed states, notably Saudi Arabia.
The Saudi government said it regretted the decision in a statement published by the Saudi Press Agency, adding: "Saudi Arabia's commitment to combating money laundering and the financing of terrorism is a strategic priority".
Despite pressure to exclude Riyadh from the list, the commission decided to list the kingdom, confirming a Reuters report in January.
EU adds Saudi Arabia to dirty-money blacklist, upsets Britain
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