Singapore imposed sanctions on banks VTB, Rossiya, Promsvyazbank and VEB.RF. This was announced on March 5 on the official website Ministry of Foreign Affairs of the Republic.
“All financial institutions in Singapore, including banks, financial companies, insurance companies, intermediaries, stock exchanges, payment service providers are prohibited from working with VTB, Rossiya, Promsvyazbank and VEB.RF banks,” the message says.
Singapore’s restrictions also include a ban on cryptocurrency transactions and restrict the supply of dual-use items to the Russian Federation.
“Russia’s invasion of Ukraine is contrary to the UN Charter and is a clear and flagrant violation of international law. While we continue to value good relations with Russia and the Russian people, we cannot tolerate a violation by the Russian government of the sovereignty and territorial integrity of another sovereign state,” the country’s foreign ministry said in a statement.
On February 28, the European Union approved the decision to freeze the assets of the Central Bank. The head of the regulator, Elvira Nabiullina, then stressed that the Russian financial infrastructure would work smoothly.
The EU also decided to disconnect VTB, Rossiya, Otkritie, Novikombank, Promsvyazbank, Sovcombank and VEB.RF from SWIFT. Credit institutions will be disconnected from the system on March 12. In addition, the European Union has banned the import of euro banknotes into Russia, except for cases of personal use by individuals arriving in the Russian Federation, as well as citizens with legal immunity.
On February 28, the US Treasury banned operations with the Central Bank of the Russian Federation, the Treasury and the National Welfare Fund. Before that, Washington imposed sanctions on a number of Russian companies with state participation or organizations important for the economy, and on “two more companies with a predominance of private capital.”
Russia launched a special operation to protect the Donbass on February 24 against the backdrop of intensified shelling by the Ukrainian military. The authorities of the Donetsk and Luhansk republics announced the evacuation of residents to the Russian Federation, and also turned to Moscow for help. On February 21, Russian President Vladimir Putin signed a decree recognizing the independence of the DNR and LNR.
The Russian side emphasized that it does not hatch plans for the occupation of Ukraine, and strikes are carried out only on the military infrastructure of the Armed Forces of Ukraine.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.
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