Ukraine invasion: Singapore to impose unilateral sanctions on Russia in ‘almost unprecedented’ move
- Singapore’s decision to act in concert with the West to impose unilateral sanctions marks the second time it is censuring a foreign power without UN Security Council assent
- Foreign Minister Vivian Balakrishnan warns the republic may have to face ‘some costs’ for the sanctions, but that it must ‘stand up for principles’ as a small state
The government will also “block certain Russian banks and financial transactions connected to Russia”, Vivian said in a special ministerial statement on the crisis, adding that the specific measures would be announced soon.
The measures will come up at “some costs” to citizens and businesses in the island nation, the minister said. He said Singapore continued to “value our good relations with Russia and the Russian people”.
But “unless we as a country stand up for principles that are the very foundations for the independence and sovereignty of smaller nations, our own right to exist and prosper as a nation may similarly be called into question”, he said.
The republic’s legislature was due to begin a two-week debate on the 2022 budget on Monday, but lawmakers resolved to first allow Vivian to make a statement on Russia’s aggression.
We cannot accept one country attacking another without justification, arguing that its independence was the result of ‘historical errors and crazy decisions’
In his 20-minute speech, Vivian underscored that the republic’s tough stance on Russia was borne out of its diplomatic principles as a small state.