EU Issues FAQs on Deposits, Trust Services
The European Commission on July 8 updated its Russia sanctions frequently asked questions, releasing new guidance. The deposits FAQs include how to make an authorization under the sanctions list, formal requirements on how the authorization should be designed, and what…
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information should be obtained by the national authority for assessments made under the sanctions regime. The trust services FAQs cover the definition for the term "trust or any similar legal arrangement," what activities are banned in relation to trusts, how the ban is applied in practice, and more.