European flags. (Credit: AFP)
The European Union office in Beirut clarified on Wednesday, June 11, that the decision to include Lebanon on the European Commission's list of countries with strategic deficiencies in the fight against money laundering and terrorist financing (AML/CFT) "is not linked to the progress – or lack thereof – made by the current Lebanese government in terms of reforms," but that it was taken in October 2024 "following Lebanon's inclusion on the Financial Action Task Force (FATF) list, and is only now being formally codified."
The European Commission added Lebanon, along with other countries such as Algeria, Angola, Ivory Coast, Kenya, Laos, Monaco, Namibia, Nepal and Venezuela, to its "blacklist" on June 10.
Tax lawyer Karim Daher told L'Orient-Le Jour on June 10 that this announcement would likely not have "more negative effects for Lebanon than those already induced by its inclusion on the FATF 'grey list.'" The European Commission's decision is "simply an alignment with that of the FATF," Daher also indicated.