The European Union has blacklisted Saudi Arabia in money laundering and terrorist financing

The European Union (EU) on Wednesday listed three countries, including Saudi Arabia, as blacklisting countries that pose a threat to the bloc because of their “soft financing of terrorism and money laundering”.

The European Commission announced the inclusion of Saudi Arabia, Panama and Nigeria on the black list, including 23 countries and regions.

The 28 member states have the right to cancel this decision by voting against it by a conditional majority, but European Justice Commissioner Vera Yorova said during a press conference that she would not be prevented by EU states.

In addition to the negative impact on the reputation of the listed, this procedure will also complicate financial relations between these countries and the European Union, where European banks will have to conduct additional checks on payments for entities from the countries and regions on the list.

The agency said that this step was taken despite criticism from some of the concerned countries of the Union of the future of its economic relations with the listed countries, primarily with Saudi Arabia.

The agency reported last month that Britain was pressing the union not to include Saudi Arabia on the black list.

The European blacklist also includes Afghanistan, Samoa, Bahamas, Botswana, North Korea, Ethiopia, Ghana, Guam, Iran, Iraq, Libya, Pakistan, Puerto Rico, Samoa, Sri Lanka, Syria, Trinidad and Tobago and Yemen.