January 17, 2018. The State Duma of the Federal Assembly of the Russian Federation, by unanimous vote, passed the first reading of the draft federal law No. 298156-7 "On amendments to the Federal Law 'On Combating Money Laundering and Terrorist Financing' as regards the fight against the financing of the proliferation of weapons of mass destruction".
The purpose of the bill is to establish a legal framework for combating the financing of the proliferation of weapons of mass destruction and to bring the country's domestic legislation in line with international standards, in particular Recommendation 7 of the Financial Action Task Force (FATF) and its interpretive note.
Prior to the vote, State Duma deputies asked questions about the international experience in combating the financing of the proliferation of weapons of mass destruction, including about the steps being taken in this area by other countries. In his reply, State Secretary – Deputy Director of Rosfinmonitoring P. Livadny, who represents the Russian Government in discussions over the said bill, said that other countries, such as Canada, the US and Macau (China's SAR), have enacted regulations containing measures for freezing funds and property of persons involved in the proliferation of weapons of mass destruction, that are similar to those envisaged by the proposed bill, thereby ensuring compliance with the relevant UN Security Council resolutions.