Amendment: Adding Kenya, Namibia and removing others from Delegated Regulation 2016/1675

This resolution objects to a European Commission decision to remove the United Arab Emirates (UAE), Gibraltar, and Panama from a list of countries with weak anti-money laundering rules. The Parliament believes these countries still pose a risk to the EU's financial system.

The decision affects financial institutions and businesses in the EU that deal with these countries. They are currently required to apply stricter checks on transactions involving entities from countries on the high-risk list.

The Parliament argues that despite some improvements, the UAE, Gibraltar, and Panama may still facilitate sanctions evasion, particularly concerning Russia. It calls for a more thorough assessment of risks before these countries are removed from the list.

The Commission is asked to submit a new delegated act that addresses these concerns. The current delegated regulation, which also proposed removing Barbados, Uganda, and Namibia, cannot enter into force due to this objection.