Today at 15:35
June 6, 2022, the Minister of Finance of Ukraine Sergii Marchenko met with the Ambassador Extraordinary and Plenipotentiary of Canada to Ukraine Larisa Galadza.
The parties discussed the impact of the full-scale Russian aggression on the macroeconomic situation in Ukraine, further cooperation between Ukraine and Canada and the potential involvement of Canada in the process of excluding Russia from the FATF and blacklisting it.
Sergii Marchenko personally thanked Larisa Galadza and the Government of Canada for their leadership in supporting Ukraine in all areas.
“I am grateful to the Government of Canada on behalf of all the Ukrainian people for the unprecedented assistance. Canada is once again demonstrating that it is one of the world’s leaders and a reliable friend of Ukraine”, said the Minister of Finance of Ukraine.
Recently, at a summit of G7 finance ministers and central banks, Deputy Prime Minister and Finance Minister of Canada Chrystia Freeland announced a decision to provide Ukraine with an additional USD 250 million in financial assistance through the IMF’s administrated account.
Thus, the total amount of financial assistance to Ukraine announced by the Government of Canada is about CAD 1.87 billion.
The funds will be used to finance priority expenditures of the state budget, in particular for social expenditures, and support for vulnerable groups and internally displaced persons.
Sergii Marchenko called for support for Ukraine’s initiative to exclude Russia from the Financial Action Task Force (FATF) and include it in the FATF “black list” for gross violations of FATF general principles, non-compliance with FATF standards and negative impact on the security situation in Ukraine and the world.
Such a decision would complicate trade with Russia and help deprive Russian military forces of criminal acts in Ukraine of funding. FATF lists are an important guide for many companies and investors in assessing the risks of working with countries, thus, excluding Russia from the FATF and blacklisting will make the country less attractive to global business.
