Singapore will impose "appropriate sanctions and restrictions" on Russia. This was disclosed by Foreign Minister Vivian Balakrishnan to parliament today (28/2).
Among the sanctions imposed include restrictions on action for the banking and financial sectors and export controls on goods that can be used as weapons against the Ukrainian people.
This sanction was carried out by Singapore to comply with United Nations (UN) Security Council resolutions. The country is actually quite rare to issue its own sanctions against other countries.
"Singapore intends to act in concert with many other like-minded countries to impose appropriate sanctions and restrictions on Russia," Balakrishnan said.
He also described the Russian invasion as unacceptable and a grave violation of international norms.
Balakrishnan further said the sanctions were due to the "unprecedented gravity of the situation" and Russia's veto last week of a draft Security Council resolution.
"In particular, we will impose export controls on goods that can be used directly as weapons in Ukraine to harm or conquer Ukraine," Balakrishnan added.
"We will also block certain Russian banks and financial transactions connected to Russia," he added.
Balakrishnan said specific measures were being worked out and would be announced soon.
Singapore's move is a first among its regional neighbors and apart from the 10-member Association of Southeast Asian Nations (ASEAN).
The bloc on Saturday called for a de-escalation of the conflict and for dialogue and respect for international law and UN commitments.
