EU can freeze Russian assets held by trusts, court rules
The EU's Court of Justice has ruled that assets linked to sanctioned Russians can be frozen, even if held by trusts without direct legal ties. This decision aims to prevent any circumvention of sanctions and limit transactions involving these assets. The ruling arose from cases in Italy concerning the seizure of companies and a yacht linked to individuals on the sanctions list.
- ▪The EU can freeze assets linked to Russians sanctioned over the war in Ukraine.
- ▪Assets can be frozen even if they are held by a trust and there is no direct legal link to the sanctioned individuals.
- ▪The court emphasized that ownership and control should encompass all forms of power or influence over assets.
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EU can freeze Russian assets held by trusts, court rulesSign up now: Get ST's newsletters delivered to your inboxPublished May 21, 2026, 05:24 PMUpdated May 21, 2026, 05:24 PMAMSTERDAM, May 21 - The European Union can freeze assets linked to Russians sanctioned over the war in Ukraine, even if those assets are held by a trust and there is no direct legal link to the persons involved, the EU's Court of Justice ruled on Thursday.• The court said assets can also be frozen if they are only indirectly linked to the person on the sanctions list.• Concepts of ownership and control should encompass "all forms of power or influence exercised over assets", it said, even if there was no legal link between them and the person concerned.• It said this served the purpose of the freezing of funds, meant…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Straits Times — World.