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European Parliament Pushes Back on EU Commission’s Updated Anti-Money Laundering Blacklist
Tensions are rising between the European Parliament and the European Commission over a controversial update to the EU’s anti-money laundering (AML) blacklist, as lawmakers continue to resist efforts to remove certain jurisdictions including the United Arab Emirates, Panama, and Gibraltar.
The updated list, published by the European Commission earlier this month, proposes adding countries such as Algeria, Angola, Kenya, Monaco, and Venezuela, while simultaneously delisting Barbados, Panama, the UAE, and Gibraltar. However, the changes cannot take effect without the approval of both the European Parliament and the Council—and the Parliament remains unconvinced.
Members of the European Parliament (MEPs) are questioning the rationale behind the delisting of jurisdictions accused of enabling financial misconduct and potentially assisting in the evasion of EU sanctions against Russia. In a resolution adopted in April 2024, Parliament firmly opposed the Commission’s proposal, arguing that some of the countries slated for removal continue to act as hubs for sanction circumvention.
“Those countries may act as platforms for circumvention of sanctions for Union entities, directly or indirectly, thus undermining the Union’s efforts in stopping the Russian war machine,” the resolution warned.
Speaking at a sparsely attended committee meeting in Brussels on Monday, EU Commissioner for Financial Services Maria Luis Albuquerque acknowledged the impasse and defended the Commission’s position. She stressed that the blacklist was the result of over a year of analysis, bilateral dialogues, and on-site evaluations—not simply a duplication of the Financial Action Task Force (FATF) list, as some MEPs have alleged.
“Our aim is to align with FATF without compromising the integrity of our process,” said Albuquerque. “The lack of alignment over the last 18 months has become a significant irritant in our international partnerships. It weakens our influence and creates confusion for European entities applying AML rules.”
However, lawmakers were not persuaded. MEP Luděk Niedermayer (EPP/Czechia) criticized the Commission for insufficient engagement with Parliament. Meanwhile, German Socialist Birgit Sippel accused the Commission of “copy-pasting” FATF decisions, dismissing the supposed strategic dialogues as unconvincing.
Albuquerque warned that the EU’s failure to adopt a unified list poses broader risks. “Conflicting blacklists increase compliance costs for EU operators and damage our global competitiveness,” she said.
Despite her appeals, the updated list remains stalled as Parliament continues to press for stricter scrutiny—particularly amid ongoing concerns about money laundering, sanctions evasion, and reputational harm to the bloc’s financial system.
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Pakistan Signals Near-Completion of US-Iran Peace Deal as Negotiations Intensify
Pakistan’s Prime Minister Shehbaz Sharif said on Saturday that a proposed peace agreement between the United States and Iran was closer than ever to being finalised, with expectations that it could be completed within 24 hours. His remarks came amid heightened diplomatic activity involving multiple regional and international actors working to bridge long-standing differences between Washington and Tehran.
Iranian state media reported on Sunday that Tehran had not yet reached a final decision on the draft agreement aimed at ending tensions between the two countries. The uncertainty followed a series of statements suggesting that progress had accelerated significantly in recent days.
US President Donald Trump also indicated on Saturday that a deal was within reach, echoing optimism from mediators involved in the process, including Pakistan. In a post on his Truth Social account, Trump stated that the agreement was scheduled for signing the following day. He added that once completed, the Strait of Hormuz would be opened for unrestricted passage.
“Hopefully, this process will all work out quickly, easily, and smoothly. If it doesn’t, we have the ultimate alternative, hopefully never to be used again,” Trump said, while also emphasizing that the arrangement would prevent nuclear escalation.
Prime Minister Shehbaz Sharif, speaking earlier on Saturday, described the situation as being at its closest point to resolution. He said Pakistan was preparing for an electronic signing ceremony once final agreement was reached. According to his statement on X, technical-level discussions would continue in the days following the signing to ensure implementation of the deal’s provisions.
Diplomatic engagement continued on Sunday when a Qatari delegation arrived in Tehran. According to Iran’s Tasnim news agency, the delegation’s purpose was to review the latest developments related to the ongoing diplomatic process and maintain momentum in negotiations.
Central to the proposed agreement is Iran’s commitment to fully reopen the Strait of Hormuz, a critical maritime passage for global oil and gas shipments. Another key condition involves curbing Tehran’s nuclear program, which has been a longstanding point of contention in its relations with Western powers.
While optimism has grown among mediators, Iranian authorities have not confirmed final approval, leaving the outcome uncertain. Negotiations are expected to continue as involved parties attempt to resolve outstanding issues and move toward formal agreement.
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