Singapore imposes sanctions on four Russian banks; export of certain goods also banned

Transactions and providing financial services to the Russian government and the Central Bank of the Russian Federation will not be allowed in Singapore. - The Straits Times/ANN

SINGAPORE, March 5 (The Straits Times/ANN): Banks and other financial institutions here will be banned from doing business with four Russian banks, as part of sanctions the Republic is imposing to hit the Russian economy for the invasion of Ukraine.

The sanctions will also involve a ban on the export of certain goods to Russia, including electronics, computers and military goods, said the Ministry of Foreign Affairs (MFA), which gave more details on these sanctions on Saturday (March 5) for the first time since they were announced on Monday.