Singapore named by Russia in list of countries for 'unfriendly actions'
SINGAPORE — Moscow on Monday (7 March) issued a list of countries and territories including Singapore that “commit unfriendly actions” against Russia, its companies, and citizens, according to Russian news reports, amid the ongoing Russian invasion of Ukraine.
Apart from Singapore, the other countries and territories listed by the Russian government are the US, Canada, the European Union states, the UK, Ukraine, Montenegro, Switzerland, Albania, Andorra, Iceland, Liechtenstein, Monaco, Norway, San Marino, North Macedonia, Japan, South Korea, Australia, Micronesia, New Zealand, and Taiwan, according to a report by TASS news agency.
All corporate deals with companies and individuals from "unfriendly countries" have to get approval from a government commission, Reuters reported, citing a Russian government resolution.
Singapore and other countries have announced wide-ranging sanctions against Russia after it launched the full-scale invasion on 24 February.
On 28 February, Foreign Minister Vivian Balakrishnan in Parliament said that Singapore will impose export controls on items that can be used directly as weapons in Ukraine, as well as certain financial sanctions on Russia. The city-state will block certain Russian banks and financial transactions connected to Moscow.
Singapore's ministers have been issuing statements to condemn Russia's invasion of Ukraine. Singapore voted alongside 140 other United Nations General Assembly members for a resolution to deplore Russia's invasion last Wednesday.
"We cannot accept one country attacking another without justification, arguing that his independence was the result of 'historical errors and crazy decisions'. Such a rationale would go against the internationally recognised legitimacy and territorial integrity of many countries, including Singapore," said Dr Balakrishnan in his Ministerial Statement.
Singapore sovereign wealth fund, GIC, on Saturday said it will stop investing the government’s funds into new Russian sovereign and central bank debt, according to a report by Bloomberg.
“GIC continues to assess the Russian-Ukrainian situation and will ensure compliance with all applicable laws and regulations,” a GIC spokesperson said.
Trade and Industry Minister Gan Kim Yong said last Monday in Parliament that the downside economic risks faced by Singapore have “increased significantly” due to the Ukraine-Russia crisis.
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