Saudi Arabia diplomatic clout forces EU to change the major decision against Kingdom
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RIYADH - A unanimous majority of European Union member states have moved to block a new EU money-laundering blacklist that includes Saudi Arabia and several US territories, following a letter by Saudi Arabia's King Salman bin Abdulaziz Al Saud.
The procedure to block the blacklist, which was originally adopted in line with previously-agreed EU rules to prevent money laundering, was launched on Thursday, according to Reuters.
The Financial Times has also reported that 27 of the EU's total 28 countries, led by the UK, France, Germany, and the Netherlands, have pushed to block publication of the list.
A majority of 21 states is needed to veto the EU blacklisting regulation.
Individual EU states are expected to clarify their positions on the matter in a Friday meeting in the Belgian capital of Brussels. A formal decision will be made in the next two weeks.
Diplomatic sources said Riyadh and Washington have pressured the EU to scrap the list.
Saudi King Salman has reportedly written letters to all EU leaders appealing against the oil-rich kingdom's blacklisting.
The listing “will damage its reputation on the one hand and it will create difficulties in trade and investment flows between the Kingdom and the European Union on the other,” the Saudi monarch wrote.
