Russian Federation

Russian Federation

Politics and economy

Russia is a democratic federal presidential-parliamentary republic. Legislative power is vested in the Federal Assembly (Parliament), while executive power is vested in the Government.

Russia’s main exports are hydrocarbons, metals, chemicals, machinery, equipment, weapons and food.

Russia has a bilevel banking system consisting of the Central Bank and lending institutions (commercial banks and non-bank lending institutions). The country’s national currency is the ruble.

National AML/CFT regime

Federal law №115-FZ On Countering the Legalization (Laundering) of Criminal Proceedsentered into force in Russia in August 2001.

The national legislation is being constantly enhanced in compliance with international standards. Measures are also being taken to enhance interagency cooperation and implementation of risk-based approach in private sector institutions. Key role in these processes are played by the Interagency Commission on Combating Money Laundering and Financing of Terrorism which is chaired by the head of Rosfinmonitoring. A Consultations Council is a part of the Interagency Commission which includes participants from key banking associations and other private sector institutions engaged in AML/CFT.

The national financial intelligence unit (FIU) is the Federal Financial Monitoring Service (Rosfinmonitoring) which was founded in 2001 as part of Ministry of finance (former Financial Monitoring Committee (KFM) and has been an independent body which reports to the government since 2004.

Rosfinmonitoring is an administrative-type FIU which is a member of the Egmont Group. According to unofficial ratings, Rosfinmonitoring was appointed as one of the world’s 5 top financial intelligence units.

Russia is a the FATF and MONEYVAL (a FATF-style regional body in Europe), as well as an observer in the Asia/Pacific Group on Money Laundering.

YURI CHIKHANCHIN

Head of the Federal Service for Financial Monitoring

Born June 17, 1951 in Krasnoyarsk.

In 1974 he graduated from the Siberian Technological Institute.

In 1974-1978 he worked at enterprises of the Krasnoyarsk Territory (repairman, senior repairman, foreman, Head of Production Planning).

From 1978 to 1994 he served in the security services.

In 1994-2000 he headed the Eastern Siberian Regional Office of Russia’s Currency and Export Control Service.

In 2000-2002 he served as Head of Foreign Exchange Control at the Ministry of Finance of the Russian Federation.

From 2002 to 2004 he was First Deputy Chairman of the Russian Federation Committee for Financial Monitoring.

From 2004 to 2007 he was Deputy Head of the Federal Service for Financial Monitoring.

From September 2007 to May 2008 he served as Head of the Secretariat of the Prime Minister of the Russian Federation.

On May 22, 2008 he was appointed Head of the Federal Financial Monitoring Service.

On 13 June 2012 he was reappointed Director of the Federal Financial Monitoring Service.

He is a Class 1 State Advisor, a Kandidat of Economics, has the honorary title Honored Economist of the Russian Federation, has been thanked by the Russian President, the Prime Minister of the Russian Federation and the Federal Assembly of Russian Federation, and has been awarded the Medal of Honor.

In 2011 awarded by the President of the Russian Federation with the "Merit for the Fatherland" of IV degree.

Cooperation with the EAG

Russia has been a member of the EAG since the group was founded.

The EAG Secretariat has been in Moscow since 2004. Seven plenary meetings of the EAG were held in the Russian Federation.

Based on the FATF–MONEYVAL–EAG mutual evaluation, in 2008 Russia received high ratings for compliance with international AML/CTF standards

In 2009 Russia submitted its first follow-up report to the EAG Plenary.

Russia’s latest follow-up report will be submitted at the EAG’s 13th Plenary metting in December 2010.

Russia provides technical assistance to the EAG member states in areas that include training the personnel of financial intelligence units, supervisory and law enforcement bodies. For these purposes, the International Training and Methodology Centre for Financial Monitoring was created.

The 20th and 23rd EAG Plenary meetings were held in Moscow in 2014 and 2015.

The 27th EAG Plenary meeting were held in Moscow in 2017.

EAG MEMBER-STATES
Republic of Belarus

Belarus is a presidential republic. Its supreme legislative body is the National Assembly. Belarus is an industrial-agrarian country. The most developed segments of its economy are the auto industry, instrument-making, light industry, food, chemicals and petrochemicals.

Russia accounts for about 50% of the country’s foreign trade.

Republic of India

India joined the EAG as a member state in December 2010 following the decisions of the 13th Plenary meeting. Before that India had observer's status.

The country is a member of FATF and APG.

Republic of Kazakhstan

Kazakhstan is a parliamentary-type presidential republic. The supreme legislative body is the parliament.

People’s Republic of China

The People’s Republic of China is a socialist republic. The highest legislative power is exercised by the National People's Congress of China.

Kyrgyz Republic

Kyrgyzstan is a parliamentary republic. The parliament of the Republic is the Zhogorku Kenesh.

The Kyrgyz Republic is a leading exporter of mercury and antimony and has enormous hydropower potential.

Russian Federation

Russia is a democratic federal presidential-parliamentary republic. Legislative power is vested in the Federal Assembly (Parliament), while executive power is vested in the Government.

Russia’s main exports are hydrocarbons, metals, chemicals, machinery, equipment, weapons and food.

Republic of Tajikistan

Tajikistan is a presidential republic. The main body of the legislative branch is the parliament—the Madzhlisi Oli.

Turkmenistan

Turkmenistan is a presidential republic. Large companies in heavy industry, agriculture, electrical power, transportation and telecommunications are state owned.

Republic of Uzbekistan

Uzbekistan is a rule-of-law democratic state. The head of state is the president. The supreme state representative body is the Oly Mazhlis of the Republic of Uzbekistan.

EAG MEMBER-STATES
Republic of Belarus
Close
Republic of Belarus

Belarus is a presidential republic. Its supreme legislative body is the National Assembly. Belarus is an industrial-agrarian country. The most developed segments of its economy are the auto industry, instrument-making, light industry, food, chemicals and petrochemicals.

Russia accounts for about 50% of the country’s foreign trade.