Liechtenstein finance sector implementing sanctions against Russia
8 March 2022
The Liechtenstein Bankers Association and the Liechtenstein Institute of Professional Trustees and Fiduciaries have pledged their full support to the authorities in implementing the sanctions levied against Russia. The organizations play a key role as intermediary bodies within the Liechtenstein finance sector.
The Liechtenstein Bankers Association (LBA) and the Liechtenstein Institute of Professional Trustees and Fiduciaries (THK), headquartered in Vaduz, have pledged their full support to the government and authorities in implementing the sanctions imposed on Russia. As the most important and largest associations of the Liechtenstein finance sector, the LBA and THK are aware of their responsibility and key role in the enforcement of sanctions, they explain as part of a joint statement.
“We recognize the central role of financial intermediaries with regard to the sanctions imposed worldwide and assure the Liechtenstein government of our full support in the consistent implementation and application of these sanctions”, the statement reads. As such, the LBA and THK are maintaining regular contact with the competent authorities and the government’s crisis team.
Moreover, the organizations “vigorously” condemned the Russian invasion of Ukraine in the joint statement, expressing their hope for a swift end to the war and a “return to dialogue and diplomacy” as well.