Singapore imposes sanctions on Russia

Singapore has announced sanctions against Russia that include four banks and an export ban on electronics, computers and military items, Report informs referring to Reuters.

The tiny city-state, an international shipping hub, rarely imposes sanctions of its own but said it would not allow export of items that could inflict harm on or subjugate Ukrainians, or help Russia launch cyberattacks.

The restrictions bar Singapore’s financial institutions including its central bank, from dealing with Russia's central bank as well as VTB Bank Public Joint Stock Company (VTBR.MM), The Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank, Promsvyazbank Public Joint Stock Company and Bank Rossiya. The measures also cover cryptocurrencies.

Singapore's sovereign wealth fund GIC reiterated the new measures, which it said would also apply to the government's funds managed by GIC.

"GIC continues to assess the Russian-Ukrainian situation and will ensure compliance," it said in an emailed response.