UPDATE 1-EU states block blacklisting Saudi, Panama over dirty money
The decision comes after pressure from Riyadh and other listed jurisdictions not to be blacklisted. EU states said in a statement the unanimous decision was taken because the European Commission's proposed list was not established in a transparent process that encouraged countries to take action while also respected their right to be heard.
The decision, which confirms Reuters reports last week, will force the European Commission to prepare a new list . "I'm disappointed, but I hope I don't look like somebody who is giving up," the EU commissioner in charge of the listing, Vera Jourova, said on Thursday.
She said the process had been conducted in a transparent manner and followed EU states' commitments to act against money laundering and terrorism financing. (Reporting by Francesco Guarascio and Alastair Macdonald; Editing by Angus MacSwan)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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