Saudi Arabia regrets inclusion in EU ‘high risk’ nations’ list

Saudi Arabia regretted its inclusion in the proposed list of “high risk” countries in the area of money laundering and terrorist financing issued by the European Commission, Saudi Press Agency (SPA) reported.

Inclusion on the list, which was issued on Feb. 13, comes despite the adoption by Saudi Arabia of legislation and procedures to combat money laundering and the financing of terrorism, the statement added.

“Saudi Arabia’s commitment to combating money laundering and the financing of terrorism is a strategic priority and we will continue to develop and improve our regulatory and legislative frameworks to achieve this goal,” Finance Minister Mohammed Al- Jadaan told SPA.

The kingdom also reaffirmed its strong commitment to joint global efforts to combat money-laundering and the financing of terrorism, in which it cooperates with its partners and allies at the international level, the agency reported, citing the finance minister.

Saudi Arabia announced earlier being blacklisted by EU on money-laundering and terrorism.