GIC and Temasek pledge compliance with Russia sanctions

Compliance with the ban is unlikely to have a significant impact on the portfolio performance of both investors. PHOTOS: GIC, ST FILE
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SINGAPORE - Singapore’s state investors GIC and Temasek, counted among the world’s biggest money managers, have pledged to comply with the financial sanctions imposed on Russia for invading Ukraine.

The Republic announced on Saturday (March 5) details on a host of unilateral sanctions on Russia, including cessation of investments in new securities issued by the Russian government, the Central Bank of Russia, or any entity owned or controlled by them or acting on their direction or behalf.

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