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<p>On 23 February, the Financial Action Task Force (FATF) expressed its concern about
the growing financial connectivity of Russia with countries subject to countermeasures,
namely North Korea and Iran, and the potential risks of proliferation financing, malicious
cyber activities and ransomware attacks.</p><p>The UK’s recent joint statement (12
January 2024) is clear that Russia’s procurement of North Korean ballistic missiles
and their use against Ukraine violate multiple UNSCRs. Actively facilitating the circumvention
of UNSCR 1718 and violating its prohibitions undermines the global fight against proliferation,
the UN sanctions regime, and consequently the financial sanctions requirements of
the FATF standards. The UK will continue to call out Russia’s violation of UNSCRs
both at the UN and within the FATF.</p>
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