This is a company that has been picking up a string of contract wins in the education and defence sectors.
The sanctions include limits to access on some financial markets, a ban on certain technologies and exchanges between the bloc and Russia in energy and defence sectors.
As it happens, in recent years the rather small private bank held a large portion of the funds of the state-owned enterprises in the energy, transport and defence sectors.
The US wants sanctions targeted at the Revolutionary Guards, but China and Russia are embedded in the energy and defence sectors and will be mindful to protect their long-term interests.
Russia's energy and defence sectors must be squeezed and its sovereign bonds should be shunned: Western lenders should not finance Mr Putin's warmongering.One aim of all this should be to bolster Ukraine's hand in the negotiations that, sooner or later, it will probably have to enter.
Not only could elite foreign institutions bring new students to the geographically isolated city of Adelaide, the thinking went, but niche programmes would offer new opportunities for those already there, particularly those working in the city's state service, entertainment and defence sectors.
