EU votes to remove UAE from ‘high-risk’ money-laundering list

I was quoted by Deepthi Nair in an article for The National News on the EU removing the UAE from their AML/CFT list, a list of countries posing a high risk of money laundering and terrorism financing.

Coming after the Financial Action Task Force removed the UAE from its “grey list” in February 2024, I commented that “It’s a political decision because it comes as the UAE and the EU are advancing discussions for a free-trade agreement“.

I added that “What the EU is happy with now had been in place in the UAE for quite some time already. This is the EU seeking to remove all hurdles at home to make sure there is no political opposition to a free-trade agreement with the UAE“.

Read the full article here.

Picture credits: The National

Nicolas Michelon

Nicolas is a corporate geoeconomics and strategic & business intelligence expert with 25 years of experience in the Asia-Pacific, and more recently in the Gulf and Türkiye. A Managing Partner at Alagan Partners, he advises corporate executives on how to navigate the current geopolitical and geoeconomic environment, mitigate risk and develop prospective scenarios. He is also an Adjunct Professor & Guest Lecturer in geopolitics, geoeconomics and business intelligence at ESCP Business School (France), Galatasaray University (Türkiye), University Mohammed VI Polytechnic (Morocco), and Ecole de Guerre Economique (Paris School of Economic Warfare).