Singapore imposes sanctions on Russian banks; bans export of dual-use products to Russia

Amid the Ukraine invasion, Singapore imposed sanctions on Russian banks and banned exports of dual-use products to Russia, reported European media. Additionally, this is for the first time in many years, Singapore has imposed sanctions that have not been previously approved by the UN Security Council. As per the Sputnik report, Singapore has also banned its financial institutions from Transactions allowing fundraising by the Russian central bank. 

Russia has been continuously facing sanctions from world leaders amid attack on Ukraine with the first one's being the Biden administration's economic sanctions on Moscow's top elites, oligarchs and other political leaders that have a close connection with Putin. Since then, a number of sanctions have been imposed by several European Union countries, Western countries and other international organisations, which are especially focused on Russian oligarchs. 

Top Putin sympathisers & Oligarchs likely to face EU & US sanctions

The Biden administration earlier described the Ukraine invasion by Russia a “blatant violation of Russia’s international commitments and reiterated imposing economic sanctions on Moscow's top elites, oligarchs and other political leaders that have a close connection with Putin. Since then, a number of sanctions have been imposed by several European Union countries, Western countries and other international organisations, which are especially focused on Russian oligarchs. 

UK sanctions Oligarchs Alisher Usmanov & Igor Shuvalov

Amid the Russia Ukraine war, several countries are imposing restrictions on Russia with an aim to stop the war. The United Kingdom has decided to impose sanctions on two Russian oligarchs Alisher Usmanov and Igor Shuvalov. Their assets will be blocked, and they will be unable to travel to the UK under the new sanctions imposed by the UK government. They will not be permitted to deal with British citizens or enterprises. The authorities suggest that both Usmanov and Shuvalov had major interests in the United Kingdom and has strong ties with the Kremlin.