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Malaysia Included in List of Nations with ‘Good, Exceptional’ Relations with Russia

The list issued by the Russian government enables brokers and banks from nations with 'good' and 'exceptional' relations with the Kremlin to trade Russian currency and engage in the country's derivative markets.

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(DEFENCE SECURITY ASIA) — In a recent government list released by the Russian authorities several months ago, Malaysia, along with 29 other countries worldwide, has been categorized as having “good” and “exceptional” relations with Moscow.

This list, issued by the Russian government, allows brokers and banks from these countries to trade Russian currency and engage in derivatives markets.

“Foreign credit organizations and brokers from friendly and exceptional countries (with Russia) will be allowed to trade in Russian currency and derivatives markets,” said the Russian government in a statement.

The statement regarding the list of 30 countries was signed by Russian Prime Minister Mikhail Mishustin.

 “The 30 listed countries that have good and exceptional relations with Russia are: Azerbaijan, Armenia, Belarus, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Algeria, Bangladesh, Bahrain, Brazil, Venezuela, Vietnam, Egypt, India, Indonesia, Iran, Qatar, China, Cuba, Malaysia, Morocco, Mongolia, United Arab Emirates (UAE), Oman, Pakistan, Saudi Arabia, Serbia, Thailand, Turkey, and South Africa.”

Russia
Former Malaysian Prime Minister Mahathir Mohamad during bilateral meeting with President Putin few years ago.

 

In February 2022, following Moscow’s attack on Ukraine, many countries worldwide began imposing economic sanctions on Russia as a punishment for the attack, aiming to hurt the Russian economy.

Additionally, Micronesia also decided to sever diplomatic ties with Russia.

In response, Russia expanded its list of countries “hostile” to it to include 48 countries worldwide, which have imposed economic sanctions or severed diplomatic ties.

Countries included in the list of “unfriendly” countries towards Russia include the United States and Canada, European Union countries, the United Kingdom (including Jersey, Anguilla, British Virgin Islands, Gibraltar), Ukraine, Montenegro, Switzerland, Albania, Andorra, Iceland, Liechtenstein, Monaco, Norway, San Marino, North Macedonia, as well as Japan, South Korea, Australia, Micronesia, New Zealand, Singapore, and Taiwan (considered a territory of China but administered independently since 1949).

On July 22, 2022, Russia added Croatia, Denmark, Greece, Slovakia, and Slovenia to its list of “hostile countries.”

Ukraine

Russian Prime Minister Mikhail Mishustin stated that this list now consists of countries “taking unfriendly actions towards Russia, especially against Russian diplomatic and consular representatives abroad.”

Last July, Russian authorities provided a list of 10 measures that would make it more difficult for foreign traders operating in the country, including attempts to exit and re-enter the country’s market.

If a company is owned by individuals or parents from countries on the “unfriendly” list with Russia, proceeds from the sale of their company to Russian owners may not be transferable out of the country. — DSA

 

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