The European Union yesterday informed Iraq that it had been removed from the list of countries at high risk of money laundering and terror financing countries.
The Iraqi Foreign Ministry explained in a statement that an EU delegation had delivered a letter to Prime Minister Mustafa Al-Kadhimi announcing that Iraq had been removed from the commission’s list of countries with high-risk money laundering and terror financing.
“The EU commission in Iraq congratulated the government for the great measures taken by the authorities to improve the country’s anti-money laundering system and to combat terrorism financing,” Al-Kadhimi added.
The statement pointed out that the EU’s “positive and continuous cooperation” had stemmed from the Iraqi government’s “efforts to improve its financial sector on compliance with international standards.”
In May 2020, Iraq was blacklisted alongside Afghanistan, Pakistan, Syria, Yemen, Iran and North Korea as one of the countries posing financial risks to EU countries, due to lack of measures in place to combat money laundering and terror financing.