Graduates of HSE University’s International College of Economics and Finance (ICEF) traditionally receive their degrees against a backdrop of grand fireplaces, an oak staircase, and a balcony overlooking the Kremlin. This is because the ICEF holds its commencement ceremony at the British ambassador’s residence on the Sofiyskaya Embankment. And this is not by accident. Graduates of the ICEF’s bachelor’s programme receive two degrees from HSE and the University of London, respectively, while graduates of the ICEF’s Master’s Programme in ‘Financial Economics’ receive a degree from HSE and the London School of Economics. This year marked the ICEF’s 19th commencement ceremony.