Liechtenstein is considering tightening control over numerous trusts linked to Russia amid pressure from Washington. This is reported by UNN with reference to Reuters.
Details
Liechtenstein, one of the smallest and wealthiest countries in the world, has begun auditing hundreds of trust funds linked to Russian citizens and whose managers refuse to manage them due to pressure from the United States.
This situation has put the country in its biggest crisis since 2008, when a leak of customer data from LGT Bank revealed the possibility of tax evasion by customers from abroad.
This has forced many fund managers to resign for fear of sanctions. In turn, this led to a disruption in the management of funds and the freezing of assets.
Let us remind you
According to the BBC, Russians are earning billions from oil exports to the West, which allows them to finance the war against Ukraine.