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Singapore imposes sanctions on banks VTB, VEB.RF, Promsvyazbank and Bank Rossiya. It is reported by RBC with reference to the Singapore Foreign Ministry.
Singapore companies are prohibited from transactions involving these financial institutions and business relationships. In addition, they are not allowed to engage in transactions or provide services where the ultimate beneficiary of the transactions is the Russian government, the Central Bank, or any entity they control or that acts on their behalf and on behalf of them.
According to the publication, Singaporean companies cannot enter into transactions with companies from the DPR and LPR in the field of transport, telecommunications, energy, exploration and production of gas, oil and minerals.
Moreover, Singapore prohibits the supply of all goods from the special list of military goods, the supply of goods from the categories “electronics”, “computers” and “telecommunications and information security” from the list of dual-use goods.
On February 24, Russian President Vladimir Putin announced a special military operation in Ukraine. In response to Russia’s actions, Western countries announced new sanctions against the Russian Federation. Many companies announced their withdrawal from the Russian market. The European Union decided to disconnect seven Russian banks from the international system of interbank payments SWIFT: VTB, Rossiya, Otkritie, Novikombank, Promsvyazbank, Sovcombank and VEB.RF.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
