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Tuesday, October 1, 2024

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    Three ways the Ukraine-Russia crisis will impact Singapore homeowners

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    The world community, including Singaporeans, has been stunned by the Ukraine-Russia crisis, which began in 2014 and will culminate in Russia’s invasion (or “special military operation”) of Ukraine on February 24, 2022. The Singapore government reaffirmed its support for international law and the idea that all countries, large and small, must be respected on February 28, 2022.

    Singapore will apply financial sanctions against identified Russian banks, businesses, and activities in Russia, as well as fund-raising efforts benefiting the Russian government, in collaboration with many other like-minded countries.

    It will also impose export restrictions on products that can be used directly as weapons to hurt or oppress Ukrainians, as well as items that aid offensive cyber activities.

    While most homeowners are concerned about geopolitics,

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