As part of March 2026 short-term course on “European Experience with the Fight against Financing of Terrorism in Different Industries”, students examined one of the most comprehensive sanctions regimes in modern history – the international response to Russia’s invasion of Ukraine.
Prof. Petr Hájek, Ph.D. presented an analysis of EU and international sanctions mechanisms, detailing specific financial measures (the exclusion of Russian banks from SWIFT network and extensive trade bans targeting military, energy and luxury sectors). Students explored the economic sanctions and their strategic objectives in international relations.
A critical component examined the evasion tactics employed to circumvent sanctions, including shadow fleet operations for oil transport, cryptocurrency laundering schemes and complex re-routing through third-country hubs in Central Asia and UAE. Participants learned to identify red flags in illicit transactions and understood the compliance obligations facing financial institutions operating in a high-risk environment.
The lecture assessed the real-world economic impact of these restrictions, analyzing the declines in Russian industrial production and energy revenues. Understanding sanctions compliance is essential for students’ careers in international banking, trade finance and risk management, as violations carry legal penalties and reputational damage.
