A: Sanctions by themselves will not stop the war. But they are limiting the Kremlin's ability to continue to finance it. Sanctions are only one of the tools we are using. The economic pressure they create is combined with political and diplomatic pressure to isolate Russia and force it to change its behaviour of disregarding international law. The sanctions will take full effect in the mid-to long-term. But they are already hitting the Kremlin hard. It is obvious that the Russian economy is losing its ability to modernise. In addition to sanctions, more and more companies and partners are withdrawing from Russia or stopping their activities there. All this has a combined effect on the overall situation in the country and its economy.

It is not only the EU that has introduced sanctions: there are more than 40 countries sanctioning Russia, among them the most developed economies in the world - including Singapore. We are together sending a clear signal: the international community will not tolerate imposing the law of the jungle on a peaceful neighbour. We have signed up to international principles and commitments, starting with the United Nations Charter and violating them is simply unacceptable.