Sanctions Against Russia Receive Unwavering Support from Liechtenstein’s Finance Sector

A Show of Solidarity with the Government

Liechtenstein’s leading finance sector organizations, including the Liechtenstein Bankers Association (LBA) and the Liechtenstein Institute of Professional Trustees and Fiduciaries (THK), have issued a joint statement pledging their full support in implementing sanctions against Russia. This bold display of solidarity comes as a response to the Russian invasion of Ukraine.

A Crucial Role in Enforcing Sanctions

As key players in Liechtenstein’s finance sector, the LBA and THK recognize the essential role they play in ensuring the effective implementation of the sanctions. To achieve this, they have been maintaining regular contact with competent authorities and the government’s crisis team to guarantee a consistent and efficient application of the measures.

Commitment to Upholding Global Financial Integrity

The organizations’ joint statement emphasizes their commitment to upholding the integrity of the global financial system. They assure the Liechtenstein government of their unwavering support in enforcing sanctions worldwide, preventing any circumvention or evasion of the measures:

“We acknowledge the central position of financial intermediaries in enforcing sanctions worldwide and assure the Liechtenstein government of our unwavering support in this regard.”

Condemnation of the Russian Invasion

The joint statement also condemns the Russian invasion of Ukraine, expressing hope for a swift end to the conflict and a return to dialogue and diplomacy:

“We condemn the Russian aggression against Ukraine and hope that a swift solution can be found through diplomatic means. We are committed to upholding international law and order.”

This move reflects Liechtenstein’s strong condemnation of the aggression and its commitment to defending international law and order.

Conclusion

The LBA and THK’s joint statement sends a clear message: Liechtenstein’s finance sector is united in supporting the government’s efforts to implement sanctions against Russia. By working closely with authorities, they aim to prevent any circumvention or evasion of the measures, ensuring that the global financial system remains intact and international law is upheld.