Singapore’s Ministry of Foreign Affairs Saturday announced a range of sanctions and restrictions aiming to “constrain Russia’s capacity to conduct war against Ukraine and undermine its sovereignty.”

Singapore has condemned Russia’s invasion of Ukraine as a contravention of the UN Charter and “a clear and gross violation of international law.” Recognizing its own vulnerability as a small state, Singapore has refused to condone Russia’s violation of the sovereignty and territorial integrity of Ukraine, stating: “For a small state like Singapore, this is not a theoretical principle, but a dangerous precedent.”

The statement announces export controls on “items that can be directly used as weapons to inflict harm on or to subjugate the Ukrainians, as well as items that can contribute to offensive cyber operations.” This includes a ban on export of military goods, “electronics,” “computers,” and “telecommunications and information security” related goods to Russia.

The financial measures imposed prohibit financial institutions in Singapore including banks, finance companies, insurers, capital markets intermediaries, securities exchanges and payment service providers from transacting with Russian banking and non-banking entities. Singapore institutions must also freeze the assets and funds of such entities. Providing financing or financial services in relation to the export of the controlled goods is prohibited.

No transactions or financial services are to be provided to the Russian government and its entities, including the buying and selling of new securities and fundraising. In the breakaway regions of Donetsk and Lugansk, no financial services are to be provided to the sectors of transport, telecommunications, and energy. Cryptocurrencies and non-fungible tokens cannot be used to circumvent the prohibitions on these transactions.

Other countries have also imposed sanctions on Russia, including the US, the UK, and the EU.