Ukraine Invasion: Singapore Kicks, Imposes Sanctions On Russia
Moving with the current waves of criticisms across Europe and the world over Russia’s invasion of Ukraine, the Republic of Singapore has outlined details of the financial measures it will impose on Russia.
According to the Southeast Asian nation, it would be taking the rare steps of imposing sanctions on President Vladimir Putin’s administration.
In a statement, the country’s Ministry of Foreign Affairs said; “We will impose financial measures targeted at designated Russian banks, entities and activities in Russia, and fund-raising activities benefiting the Russian government.
“Digital payment token service providers are specifically prohibited from facilitating transactions that could help to circumvent these financial measures. These measures apply to all financial institutions in Singapore, including banks, finance companies, insurers, capital markets intermediaries, securities exchanges, and payment service providers.”
The statement further describes Russia’s invasion of Ukraine as “a gross violation of international law”.
It is the first country in Southeast Asia to impose sanctions on Russia. Full details of the measures are on the ministry website. – Agencies report
