Singapore Unveils Targeted Financial Sanctions on Russia (1)

Singapore’s central bank released details of targeted financial measures against Russia, part of the city-state’s broader package of unilateral sanctions induced by the war in Ukraine.

The Monetary Authority of Singapore said the measures apply to all financial institutions in the island republic, including banks, finance companies, insurers, capital market intermediaries, securities exchanges and payment service providers.

Digital payment token service providers are “specifically prohibited” from facilitating transactions that could aid the circumvention of the financial measures, the MAS said in a statement Monday.

The tiny island nation rarely imposes sanctions on other countries in the absence of binding UN ...