Lebanon has been placed on the so-called "grey list" of countries under special scrutiny by financial crime watchdog FATF, FATF said on Friday.
Elisa de Anda (R) © X
Lebanon has been placed on the so-called "grey list" of countries under special scrutiny by financial crime watchdog FATF, FATF said on Friday.
"Of course we recognise the extreme, grave situation that Lebanon is currently facing," Elisa de Anda Madrazo, the watchdog's president, told journalist.
"Lebanon's status on the grey list should not impede relief efforts ... We are working to make sure that channels of humanitarian aid remain open," she added.
Lebanon has been in a financial crisis since 2019 that has been left to fester by the country's leaders and now faces growing damage from Israeli airstrikes and ground operations against Hezbollah.
Madrazo said Lebanon had been accorded some flexibility regarding deadlines set in its action plan, but did not provide details at the news conference.
A source told Reuters earlier on Friday that the war had led the FATF to give Lebanon until 2026 instead of 2025 to address the issues that led to its grey-listing, including concerns over terrorism financing and a lack of judicial independence.
The grey-listing is likely to further deter investment in Lebanon and could affect the relationship between some Lebanese banks and the global financial system.
Reporting by Timour Azhari in Beirut and Makini Brice in Paris
Lebanese President Joseph Aoun arrived in Ankara on Thursday for an official visit during which he is due to meet Turkish President Recep Tayyip Erdoğan to discuss economic and security cooperation.
A group of Lebanese lawyers filed a complaint with the country's top prosecutor on Wednesday requesting an investigation into banker Antoun Sehnaoui over a dinner he allegedly co-hosted in Washington that was attended by Israeli Prime Minister Benjamin Netanyahu.
A drone hit a U.S.-owned gas storage tanker at Egypt's Mediterranean port of Damietta, British maritime security firm Ambrey said on Wednesday, citing an initial assessment of the incident.
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