The Russians were denied access to trusts and funds of the European Union. The decision was made on April 8, 2022 on the basis of the EU regulation and will come into force on May 10.
Russians have been denied access to trusts and funds managed by member states of the European Union. The decision was made on April 8, 2022 on the basis of the EU regulation and will come into force on May 10.
From this moment, it will not be possible to organize new trusts and funds, to support them, if the founders and / or beneficiaries (beneficiaries) are the following persons:
citizens of the Russian Federation, as well as persons residing on the territory of the Russian Federation;
Russian companies, legal entities;
organizations in which the share of participation of Russians and Russian companies is more than 50%;
affiliates of Russians and Russian companies, including those dependent on them or acting on their instructions.
The decision will work from May 10, from that day it is forbidden for trusts and funds, including their managers, nominee shareholders, management and secretariat, to carry out any interaction with the above persons, all contacts should be stopped. The ban does not apply to Russians with permanent residence or citizenship of the European Union, as well as to holders of a residence permit.
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