Riyadh – Mubasher: The European Commission, the executive arm of the European Union (EU), has made a blacklist of 23 countries linked to money-laundering activities.

The list included Saudi Arabia, Panama, and the US Virgin Islands, according to Bloomberg News.

The government of Saudi Arabia did not comment on the matter.

“We have established the strongest anti-money laundering standards in the world, but we have to make sure that dirty money from other countries does not find its way to our financial system,” Bloomberg reported on Wednesday, citing the EU Justice Commissioner Vera Jourova as saying.

The listed countries will not be subject to any sanctions or restrictions or be cut off any development aid. It only requires additional measures on transactions carried out with listed countries.