9621 Agnes Crossing, Lake Suzanneview, New Mexico Island 84604-9295.
An international organization called FATF (Financial Action Task Force), of which most Russians know nothing at all, could in the very near future try to ruin the lives
If anyone doesn’t know, FATF is a committee originally established by decree of the heads of government of the United States, Great Britain, Germany, Italy, Canada, France and Japan that develops international standards for combating financial legislation against the money laundering. Its recommendations are not legally binding, but in practice they have become the standard for all the world’s leading banks in the fight against the “dirty” money of terrorists, criminals and other bad people. Currently, 37 countries, including Russia, participate in the FATF.
Granted, our membership in the organization has been suspended after February 2022. Largely because among its members there are less than a dozen states more or less loyal to us: China, India, Brazil, Argentina, South Africa, Turkey, Saudi Arabia and Mexico with Malaysia. The rest clearly follow United States regulations.
The next FATF plenary meeting is therefore scheduled for June 19-23. It is known that many Member States are in favor of adding Russia to the so-called blacklist. That is, our country is presented as almost a paradise for dubious and illegal financial transactions. At the moment, only North Korea, Myanmar and Iran are on this list. How unpleasant it is to work in such a company is vividly illustrated by the fact that even today many Russian companies are afraid to deal with the financial system of our friendly Iran. They fear being associated with black money launderers.
It is believed that if Russia is blacklisted by the FATF, we will have to completely forget even the minimal amounts of bank transfers via the international SWIFT system that are now taking place. And, apparently, say goodbye to the dollar. As you know, international payments for cars imported into Russia are made through international bank transfers. And usually in European or American currency.
The prospect of being blacklisted is therefore seen as a serious threat. After all, it turns out to be physically impossible to pay for a car bought abroad. Accordingly, the importation of foreign cars into the Russian Federation may completely stop. Yes, and with the import of auto parts and spare parts for the production and repair of cars, everything also becomes so sad that it becomes impossible. It turns out that on June 19 you can start screaming that “all is lost”?
— I cannot comment on this issue from a macroeconomic point of view. For us, the most important thing is as long as the yuan and rubles go. For settlements with counterparties in China and South Korea, we use the yuan-ruble pair. When transacting with other countries, we convert rubles into euros and dollars through companies in EAEU friendly states. Then you can transfer money to any jurisdiction, – Sergey Pigolkin, head of the online auction of new cars CarClick, told the AvtoVzglyad portal.
This state of affairs gives reason to hope that any decisions by the FATF will not seriously affect us. Unless the speed of transactions and the cost of currency conversion slow down a bit. But if only the import of cars did not stop.
If anyone doesn’t know, FATF is a committee originally established by decree of the heads of state of the United States, Great Britain, Germany, Italy, Canada, France and Japan that develops international standards for combating financial legislation against the money laundering. Its recommendations are not legally binding, but in practice they have become the standard for all the world’s leading banks in the fight against the “dirty” money of terrorists, criminals and other bad people. Currently, 37 countries, including Russia, participate in the FATF.
Granted, our membership in the organization has been suspended after February 2022. Largely because among its members there are less than a dozen states more or less loyal to us: China, India, Brazil, Argentina, South Africa, Turkey, Saudi Arabia and Mexico with Malaysia. The rest clearly follow United States regulations.
The next FATF plenary meeting is therefore scheduled for June 19-23. It is known that many Member States are in favor of adding Russia to the so-called black list. That is, our country is presented as almost a paradise for dubious and illegal financial transactions. At the moment, only North Korea, Myanmar and Iran are on this list. How unpleasant it is to work in such a company is vividly illustrated by the fact that even today many Russian companies are afraid to deal with the financial system of our friendly Iran. They fear being associated with black money launderers.
It is believed that if Russia is blacklisted by the FATF, we will have to completely forget even the minimal amounts of bank transfers via the international SWIFT system that are now taking place. And, apparently, say goodbye to the dollar. As you know, international payments for cars imported into Russia are made through international bank transfers. And usually in European or American currency.
The prospect of being blacklisted is therefore seen as a serious threat. After all, it turns out to be physically impossible to pay for a car bought abroad. Accordingly, the importation of foreign cars into the Russian Federation may completely stop. Yes, and with the import of auto parts and spare parts for the production and repair of cars, everything also becomes so sad that it becomes impossible. It turns out that on June 19 you can start screaming that “all is lost”?
— I cannot comment on this issue from a macroeconomic point of view. For us, the most important thing is as long as the yuan and rubles go. For settlements with counterparties in China and South Korea, we use the yuan-ruble pair. When transacting with other countries, we convert rubles into euros and dollars through companies in EAEU friendly states. Then you can transfer money to any jurisdiction, – Sergey Pigolkin, head of the online auction of new cars CarClick, told the AvtoVzglyad portal.
This state of affairs gives reason to hope that any decisions by the FATF will not seriously affect us. Unless the speed of transactions and the cost of currency conversion slow down a bit. But if only the import of cars did not stop.
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
