A regulation has been issued that prohibits European trustees from creating trusts or similar structures, providing services, or even offering a registered address for their operations. The restrictions apply to trusts in which the settlors or beneficiaries are Russian companies and citizens residing in Russia, as well as persons under their control. They will stop working with them from 10 May; after that date, the remaining assets may in effect be blocked, since European trustees will not be entitled to manage them in the interests of Russians. Partner Maksim Klyuchnikov commented for Kommersant FM radio on what options exist for transferring assets to other jurisdictions and what difficulties may arise in the process.
Listen to the recording of the broadcast on Kommersant FM
Listen to the recording of the broadcast on Kommersant FM
Read also
We share expert materials and practical advice for clients
