SIFMANet Bucharest: Finance and Security in a Changing World

In March 2025, the Sanctions and Illicit Finance Monitoring and Analysis Network (SIFMANet), led by RUSI’s Centre for Finance and Security and supported by the National Endowment for Democracy, held a roundtable workshop in Bucharest, Romania, bringing together a diverse and highly engaged group of public and private sector stakeholders, academics and financial specialists. The event explored the evolving challenges posed by sanctions implementation, economic security and state-driven threats. Hosted by Her Majesty Margareta, Custodian of the Romanian Crown, the event was organised in partnership with 45 North.

This report presents insights and reflections from the Bucharest workshop, as well as side meetings, including a discussion with a group of members of the Romanian parliament. The report offers a grounded overview of Romania’s progress and challenges in navigating sanctions, illicit finance and economic security. While none of the discussions at the event are attributable, the lessons drawn from them contribute to a growing body of knowledge on how smaller EU economies can respond effectively to the threats posed by hostile state actors and financial exploitation, and respond to the changing European sanctions landscape.