Statement of the Liechtenstein Institute of Professional Trustees and Fiduciaries on the war in the Ukraine and the sanctions imposed worldwide in this context, in particular the OFAC sanctions imposed by the USA:
The Liechtenstein Institute of Professional Trustees and Fiduciaries strongly condemns the Russian invasion and is deeply concerned and worried about the war, which has been going on for more than two years now, and its consequences. The THK unreservedly supports the sanctions imposed for this reason and hopes for a swift end to the war in the Ukraine and a return to dialogue and diplomacy.
As one of the largest and most important associations of the Liechtenstein financial market, the Liechtenstein Institute of Professional Trustees and Fiduciaries is aware of its responsibility.
The Liechtenstein Institute of Professional Trustees and Fiduciaries recognises the central role of financial intermediaries with regard to the sanctions imposed worldwide and supports the Liechtenstein government in the consistent implementation and application of sanctions. The THK is therefore in permanent contact with the competent authorities and the government’s crisis team.
The Liechtenstein Institute of Professional Trustees and Fiduciaries recognises the importance of complying with foreign sanctions related to the Russian war of aggression, in particular the sanctions of the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury, due to the central role of the United States.
Compliance with these sanctions is a crucial prerequisite for supporting their global effectiveness.
The Liechtenstein Institute of Professional Trustees and Fiduciaries therefore strongly advocates the necessity of compliance with OFAC sanctions against Russia by all financial intermediaries on the Liechtenstein financial market.
23.09.2024
Board of Directors