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Comment on European Court of Justice invalidates US-EU privacy agreement [pdf]parent

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That interpretation depends heavily on how much trust you place in the regional concept of data processing. AWS claims compliance with e.g. CISPE [1] which explicitly certifies specific cloud services such as to "Enable(s) data storage and processing exclusively within the EU". AFAIK this agreement applies to the transfer of data out of the EU for processing in the US.

Note that not all AWS services are covered by CISPE. It's intentionally only scoped to low-level IaaS services like EC2/EBS.

[1] https://aws.amazon.com/compliance/cispe/

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