Singapore announced it will impose export controls on items that could be used as weapons in the Ukraine conflict, as well as block specific Russian banks and financial transactions, Foreign Minister Vivian Balakrishnan revealed in Parliament on Monday. These measures, designed in response to Russia’s invasion of Ukraine, will be finalized and made public soon.
Despite valuing its ties with Russia, Singapore stands firmly against violations of sovereignty, with the minister emphasizing the importance of maintaining the territorial integrity of nations. Singapore is also working with ASEAN and international partners to deescalate the violence and seek peaceful resolutions.

Singapore had co-sponsored a recent UN Security Council resolution condemning Russia’s aggression, which was vetoed by Russia. The minister acknowledged that these sanctions could impact local businesses and citizens but stressed that upholding fundamental principles of sovereignty is crucial to Singapore’s own future.