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Participants from both the public and private sectors voiced confidence in their abilities to implement sanctions but the Spanish government needs to work harder in providing support.
The Centre for Financial Crime and Security Studies at RUSI convened a roundtable in Madrid in late May 2023, to discuss the state of the implementation of sanctions in Spain. The event is part of the series of in-country engagements through the European Sanctions and Illicit Finance Monitoring and Analysis Network (Euro SIFMANet). The roundtable, held under the Chatham House Rule, gathered Spanish representatives from major financial institutions and relevant authorities including the Spanish Financial Intelligence Unit (FIU), Ministry of Finance and Ministry of Defence. This report summarises the main findings of the discussion related to Spain’s experience of sanctions on Russia since February 2022.
CFCS Research Analyst
Centre for Financial Crime and Security Studies