{"id":157606,"date":"2022-03-05T16:16:22","date_gmt":"2022-03-05T15:16:22","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=157606"},"modified":"2022-03-05T16:16:22","modified_gmt":"2022-03-05T15:16:22","slug":"ukraine-singapore-imposes-sanctions-on-russia","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/03\/05\/ukraine-singapore-imposes-sanctions-on-russia\/","title":{"rendered":"Ukraine: Singapore imposes sanctions on Russia"},"content":{"rendered":"<p>Singapore on Saturday joined the list of countries that have imposed sanctions on Russia in response to its invasion of Ukraine, with restrictions placed on operations of four banks and an export embargo on electronics, computers, and military hardware.<\/p>\n<p>This is an unusual move by the Asian financial center in response to Moscow&#8217;s &#8220;dangerous precedent&#8221; in Ukraine, according to the Asian financial hub.<\/p>\n<p>The tiny city-state, which serves as an <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/14\/nigerians-in-singapore-advocate-electronic-passport-application-process\/\">international<\/a> shipping hub, rarely imposes its own sanctions, but it has declared it will not allow the transfer of equipment that could injure or enslave Ukrainians, or assist Russia in launching cyber assaults.<\/p>\n<p>\u201cWe cannot accept the Russian government\u2019s violation of the sovereignty and territorial integrity of another sovereign state,\u201d its foreign ministry said in a statement, which gave no timeframe for when the sanctions would take effect.<\/p>\n<p>\u201cFor a small state like Singapore, this is not a theoretical principle, but a dangerous precedent. This is why Singapore has strongly condemned Russia\u2019s unprovoked attack.\u201d<\/p>\n<p>The restrictions bar Singapore\u2019s financial institutions including its central bank, from dealing with Russia\u2019s central bank as well as VTB Bank Public Joint Stock Company, The Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank, Promsvyazbank Public Joint Stock Company and Bank Rossiya.<\/p>\n<p>The measures also cover cryptocurrencies.<\/p>\n<p>Singapore\u2019s stand against Russia\u2019s invasion is the strongest so far by a Southeast Asia country.<\/p>\n<p>A statement on Thursday by the Association of Southeast Asian Nations (ASEAN), of which Singapore is a member, called for a ceasefire in the Ukraine crisis but made no mention of Russia\u2019s involvement.<\/p>\n<p>Asked by Reuters about its exposure to Russia, Singapore\u2019s sovereign wealth fund GIC reiterated the new measures, which it said would also apply to the government\u2019s funds managed by GIC.<\/p>\n<p>\u201cGIC continues to assess the Russian-Ukrainian situation and will ensure compliance,\u201d it said in an emailed response.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore on Saturday joined the list of countries that have imposed sanctions on Russia in response to its invasion of Ukraine, with restrictions placed on operations of four banks and an export embargo on electronics, computers, and military hardware. This is an unusual move by the Asian financial center in response to Moscow&#8217;s &#8220;dangerous precedent&#8221; [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":153732,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[37],"tags":[31720,2923,17842,5843],"class_list":["post-157606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-imposes-sanctions","tag-russia","tag-singapore","tag-ukraine"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ukraine: Singapore imposes sanctions on Russia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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