This seminar aims to provide a comprehensive understanding of sanctions by exploring their origins, rationale, and legitimacy as they have evolved over time. It seeks to clarify common confusions between sanctions, tariffs, embargoes, blockades, and boycotts, and to offer insight into the different types of sanctions and their consequences. Participants will be encouraged to question the proliferation and effectiveness of sanctions while gaining knowledge about the types of sanctions enforced in Cyprus and the consequences of non-compliance. The seminar also provides a general overview of the development of sanctions in relation to Russia since 2014, focusing on the scope and scale of current EU restrictive measures. It will cover the main financial sanctions imposed following Russia’s invasion of Ukraine, including measures related to investment services, deposits, and the SWIFT ban. A key focus will be on the issue of circumvention of sanctions, and the seminar will provide a compliance framework along with practical suggestions. Through the analysis of case studies and Q&A sessions, participants will gain a solid understanding of the application and enforcement of sanctions.

This seminar is ideal for legal professionals, auditors, accountants, risk managers, AML compliance officers, and board members.