Russian state assets: a question of trust?

05 May 2023 / Philip Munro , Phineas Hirsch

Issue: 8023 / Categories: Features , Sanctions

Philip Munro & Phineas Hirsch examine the proposed use of a trust in relation to international sanctions laws, & the issues that a trustee might face

The Seizure of Russian State Assets and Support for Ukraine Bill is a Private Members’ Bill intended to vest Russian state assets in the UK in a trust, to be used to benefit Ukraine.
This article discusses the issues that a trustee might face in accepting this trusteeship.
It also considers the form of trust proposed for this function.

A Private Members’ Bill, the Seizure of Russian State Assets and Support for Ukraine Bill, was laid before Parliament in February 2023 by Sir Chris Bryant MP, and purports to create a mechanism for the seizure of Russian state assets. The mechanism proposed in the Bill uses a form of trust, but the Bill itself provides limited detail on how this trust might work. It might be queried whether the Bill’s original draftsman intended that the seized assets actually be

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Russian state assets: a question of trust?

Philip Munro & Phineas Hirsch examine the proposed use of a trust in relation to international sanctions laws, & the issues that a trustee might face

The Seizure of Russian State Assets and Support for Ukraine Bill is a Private Members’ Bill intended to vest Russian state assets in the UK in a trust, to be used to benefit Ukraine.
This article discusses the issues that a trustee might face in accepting this trusteeship.
It also considers the form of trust proposed for this function.

If you are not a subscriber, subscribe now to read this content

If you are already a subscriber sign in

...or Register for two weeks' free access to subscriber content

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Russian state assets: a question of trust?

MOVERS & SHAKERS

DAC Beachcroft—Ben Daniels

Taylor Rose—Amarjit Ryatt

Browne Jacobson—Adam Berry & Adam Culy