Published On: Tue, May 23rd, 2023
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Desperate Putin ‘threatens allies’ as Russia risks major economic isolation | World | News

Vladimir Putin has apparently begun threatening allies in the Global South over risks Russia could be banned by the Financial Action Task Force for its war on Ukraine. A Russian state agency has warned counterparts in India of negative consequences for cooperation in defence, transportation, and energy if the FATF adopts new measures against Russia.

According to NATO officials and private documents seen by Bloomberg, the Russian agency told India in May to “vocally” oppose Ukraine‘s calls to add Russia to the blacklist of high-risk countries by the FATF, which would see Moscow in the same club as North Korea, Myanmar and Iran.

Russia‘s membership to the FATF has already been suspended since February.

Ukraine is calling for the intergovernmental organisation, setting standards for fighting dirty money, to add Russia to its “black list” or “grey list”.

Zelensky briefed him on Ukraine’s peace plan, which calls for the withdrawal of Russian troops from the country before any negotiations.

At the summit, the G7 has vowed to intensify pressure on Russia, calling its assault on Ukraine “a threat to the whole world in breach of fundamental norms, rules and principles of the international community.”

The Russian Foreign Ministry on Sunday denounced the G7 as “fixated on comprehensive confrontation with Russia“. Adding: “The leaders of the G7 countries brought to their meeting the chief of the Kyiv regime, who is controlled by them, and ultimately turned the Hiroshima event into a propaganda show.”

The group took a different approach in its comments on China, the world’s second biggest economy. The leaders said they did not want to harm China and were seeking “constructive and stable relations” with Beijing.

They also urged China to pressure Russia to end the war in Ukraine and “support a comprehensive, just and lasting peace”.

“We’re not looking to decouple from China, we’re looking to de-risk and diversify,” US President Joe Biden said.

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