HRST #14 High-Risk States or Territories list updated – February 2026

Ministerial Decree no. 2026‑72 of February 18, 2026, published in the Journal de Monaco on February 20, 2026, updates the list of HRSTs.

Main changes to the list of High-Risk States or Territories (HRST):

The list now includes 26 States. 1 State has been added and 6 States have been removed from the list:

• Afghanistan
• Algeria
• Angola
• Bolivia
• British Virgin Islands
• Bulgaria
• Burkina Faso
• Cameroon
• Democratic Republic of the Congo
• Haiti
• Islamic Republic of Iran
• Ivory Coast
• Kenya
• Democratic People’s Republic of Korea
• Lao People’s Democratic Republic
• Lebanon
• Mali
• Mozambique
• Myanmar/Burma
• Namibia
• Nepal
• Nigeria
• Russian Federation
• South Africa
• South Sudan
• Syria
• Tanzania
• Republic of Trinidad and Tobago
• Vanuatu
• Venezuela
• Vietnam
• Yemen

As a reminder, the obligations relating to HRSTs are as follows:

• When a transaction involves a counterparty with links to an HRST, a “examen particulier”  report must be drawn up and kept (cf. article 14 of law no. 1.362 as amended);
• When a business relationship or transaction involves an HRST, enhanced due diligence measures must be put in place (cf. article 14-2 of law no. 1.362 as amended).

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