The Society of Trust and Estate Practitioners (STEP) has published a position paper EU sanctions against trusts with a ‘Russian connection’ which aims to provide guidance for trust and company service practitioners who need to withdraw their services from trusts and similar legal arrangements with a ‘Russian connection’ following the latest package of economic and individual sanctions against Russia imposed by the European Commission on 8 April 2022. The paper explains what is meant by trusts with a ‘Russian connection’ and ‘Prohibited services’. It also highlights some practical issues in relation to the termination of trusteeships.
The Society of Trust and Estate Practitioners (STEP) has published a position paper EU sanctions against trusts with a ‘Russian connection’ which aims to provide guidance for trust and company service practitioners who need to withdraw their services from trusts and similar legal arrangements with a ‘Russian connection’ following the latest package of economic and individual sanctions against Russia imposed by the European Commission on 8 April 2022. The paper explains what is meant by trusts with a ‘Russian connection’ and ‘Prohibited services’. It also highlights some practical issues in relation to the termination of trusteeships.
