Targeted financial sanctions under UN Security Council Resolutions (UNSCRs)įinancial institutions, non-financial institutions and individuals in Singapore required to comply with financial sanction requirements in relation to UN-designated individuals and entities.Īs a member state of the United Nations (UN), Singapore is committed to implementing the UN Security Council Resolutions (UNSCRs).Īmongst other measures, the UNSCRs may impose targeted financial sanctions against specific individuals and entities identified by the UN Security Council (or relevant UN Committees) as contributing to a particular threat to, or breach of, international peace and security. Notice SNR-N02 Financial Measures in Relation to Russia – Non-prohibited Payments and Transactions (132.9 KB).Notice SNR-N01 Financial Measures in Relation to Russia (183.1 KB) Details of these financial measures can be found in these Notices: Digital payment token service providers are therefore specifically prohibited from facilitating transactions that could aid the circumvention of the financial measures. These measures apply to all financial institutions in Singapore, including banks, finance companies, insurers, capital markets intermediaries, securities exchanges, and payment service providers. In response to Russia’s invasion of Ukraine, the Singapore Government has imposed financial measures targeted at designated Russian banks, entities and activities in Russia, and fund-raising activities benefiting the Russian government.

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