PARIS: A global dirty money watchdog is likely to place Iran on its blacklist on Friday after it failed to comply with international anti-terrorism financing norms, a move that would further isolate the country from financial markets, two diplomats said. "It will be placed on the blacklist today," said a Western diplomat. "The consequence of (Iran's) inaction is higher costs of borrowing and isolation from the financial system. "The United States was pushing for the toughest position, while other countries like China and Russia preferred something more flexible," said a European official. sanctions have crippled Iran's economy, slashing its oil exports and increasingly isolating it from the international financial system.Iran's leaders have been divided over complying with the FATF.

Source: Economic Times February 21, 2020 10:30 UTC