How Russian fortunes stranded by US sanctions rocked Liechtenstein

Liechtenstein is examining tightening control of scores of Russian-linked trusts abandoned by their managers under pressure from Washington, according to several people familiar with the matter.

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The country, one of the world's smallest and richest, is home to thousands of low-tax trusts, hundreds of which have links to Russians, two of the people with direct knowledge of the matter said, putting it in the crosshairs of Western efforts to sanction Moscow.The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here.Since Russia's invasion of Ukraine, the U.S. Treasury has sanctioned severalto Russian oligarchs, including Vladimir Potanin, and a long-time ally of Russian President Vladimir Putin,Potanin's Interros holding company did not respond to a request for comment, while Timchenko could not be reached. That sanctioning has prompted other directors fearing such punishment to quit hundreds of Russian-linked trusts, according to several people familiar with the matter, exposing a far wider problem with Russian money in the tiny country with a population of about 40,000.The episode, ina sleepy Alpine enclave ruled by a billionaire royal family, also shows how deep and opaque Russia's business ties to Europe remain more than three years after Russia's invasion of Ukraine. It is a setback for the microstate that had long sought to shed its image as a safe haven for foreign wealth.The mass resignations have put scores of trusts in limbo, essentially freezing swathes of Russian wealth. The trusts are the linchpin for fortunes, including yachts or property, that are scattered around the globe. Their