MOSCOW, January 23 (RIA Novosti) – The Federation Council, the upper house of the Russian parliament, ratified on Wednesday an agreement with the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) in the presence of the EAG Secretariat in Russia.
The EAG, established in October 2004, is a Financial Action Task Force (FATF)-style regional body uniting Belarus, China, India, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Turkmenistan and Uzbekistan. Another 16 states and 17 international and regional organizations have observer status within the EAG.
The EAG provides support and assistance to countries in the region to set up an appropriate legal and institutional framework to combat money laundering and terrorist financing, in line with FATF standards.
The agreement grants the EAG Secretariat and its employees tax, customs and property privileges and immunities on Russian Federation territory. The executive secretary and Secretariat staff members are not subject to criminal, civil or administrative liability for actions performed in execution of their official duties.