As announced by the Ministry of Foreign Affairs on March 5, Singapore has put in place prohibitions against entering into transactions or arrangements, or providing financial services that facilitate fund raising by entities owned or controlled by the Russian government.
The SGX RegCo has suspended the trading of Gazprom’s GDR quoted on the Singapore Exchange, following Singapore’s sanctions on some Russian entities owned or controlled by its government.
Gas producer Gazprom was at one point one of the world’s most valuable companies. It was listed on the Singapore stock exchange in 2014, supposedly to tap better access to Asian investors following a multibillion-dollar gas supply deal with China.
