Paris: The Financial Action Task Force (FATF) included the United Arab Emirates (UAE) in the Grey List, accusing it of misappropriation of funds. It is said that this action was taken against the UAE as three member countries of the FATF voted against the UAE. But the United States is behind this action taken against UAE. It is abstaining from the vote against Russia in the United Nations.
The UAE’s relations are also strained with the United States, just like Saudi Arabia. UAE is upset with the United States given the nuclear deal being negotiated with Iran and the covert support of the Houthi rebels from Yemen, who are carrying out attacks on the UAE. In this scenario, UAE adopted a neutral stand by abstaining from voting the resolution moved against Russia in the United Nations, without paying any heed to the pressure from the United States.
Two weeks ago, the United States demanded the UAE increase oil and gas production to supply it to Europe. But as per reports UAE refused to comply. After that, UAE was included in the FATF Grey List. This is a significant development. Accordingly, on Friday, FATF suggested implementing 23 demands to UAE. UAE has responded positively to this.
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