European Union flags flying in front of a building. Photo: file photo.
Caracas (OrinocoTribune.com)—Venezuela’s government categorically repudiated its inclusion on the European Union’s updated list of countries at “high risk” for money laundering. A government statement referred to the accusation as baseless. The list was released on Tuesday, June 10.
In the statement, the government contrasted Venezuela’s “growing economy, with political stability and institutions that respond to its people” with what it called the EU’s “anachronistic, aging bureaucracy disconnected from its people.”
Money laundering remains a significant issue in both the US and Europe. According to Nasdaq Verafin, Europe accounted for nearly a quarter of global money laundering activity in 2023. The US, despite stricter anti-money laundering laws, still sees substantial illicit funds flow through its financial system.
Not that anyone cares about the EU, but the decrepit body included Venezuela in its list of countries with high risk of money laundering. Maybe worry about the whole aiding and abetting genocide first…https://t.co/sLUBQO7iec
— Venezuelanalysis (@venanalysis) June 10, 2025
EU’s high-risk money laundering list
The 10 countries named in the EU’s latest list are:
• Algeria
• Angola
• Ivory Coast
• Kenya
• Laos
• Lebanon
• Monaco
• Namibia
• Nepal
• Venezuela
Meanwhile, Panama, Barbados, Gibraltar, the Philippines, Senegal, and Uganda were removed from the EU list.
Scale of money laundering in Europe and the US
Optimistic estimates place Europe’s money laundering activity at US $750.2 billion in 2023—2.3% of the region’s GDP. In the US, drug trafficking alone may generate US $100 billion to $300 billion in laundered funds annually, though precise figures are difficult to determine.
Despite data often cited by government-financed NGOs, it is widely known that cartel leaders and their associates live lavish lifestyles in Global North countries.
EU’s justification and impact
The European Commission said the list followed a “thorough technical assessment” based on Financial Action Task Force (FATF) criteria. Venezuela had already been placed on FATF’s “grey list” in August 2024.
Inclusion does not trigger direct sanctions but increases scrutiny of financial transactions involving Venezuelan entities, potentially deterring investors and complicating international trade.
Venezuelan government’s statement
Below is the full unofficial translation of the Venezuelan statement, released on Tuesday, June 10:
The Bolivarian Republic of Venezuela categorically rejects its inclusion on the ridiculous list of “high-risk” countries published by the European Union. What really poses a real risk is the European Union’s own inability to protect its interests, its economy, and even its dignity.
An anachronistic, aging bureaucracy disconnected from its people now attempts to govern Venezuela, even though it can’t coherently govern its own territory. They have banks laundering money in their own capitals, officials who look the other way, and tax havens operating with total impunity within their borders or under their protection.
Venezuela, on the other hand, is a growing economy, with political stability and institutions that respond to its people, not to financial interests or lobbies of the moment. We have faced blockades, sanctions, and attempts at isolation, and here we are: stronger, more assertive, and without double standards.
What bothers the decrepit European elite is not the risk but the truth: that there are countries in the South that no longer bow their heads, that do not accept tutelage, and that are not willing to enter the lists of the obedient.
Caracas, June 10, 2025.
Special for Orinoco Tribune by staff
OT/JRE/SL
