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Malaysia Listed as Among Countries with “Friendly, Neutral” Relations with Russia

This list, released by the Russian government, allows brokers and banks from these countries having "friendly" and "neutral" raelation with Moscow to trade in Russian currency and engage in the derivatives market of the country.

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(DEFENCE SECURITY ASIA) — In a list recently issued by the Russian government, Malaysia, along with 29 other countries worldwide, has been categorized as having “friendly” and “neutral” relations with the Kremlin.

This list, released by the Russian government, allows brokers and banks from these countries to trade in Russian currency and engage in the derivatives market of the country.

“Foreign credit organizations and brokers from friendly and neutral (with Russia) countries 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 Mishushtin.

“The 30 listed countries with friendly and neutral 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.”

Kremlin
Russia President Vladimir Putin

 

In February 2022, after Moscow launched an attack on Ukraine, many countries worldwide began imposing economic sanctions on Russia as a response to the attack, with the goal of punishing Russia’s economy.

 In retaliation, Russia expanded the list of countries that were “unfriendly” towards it to include 48 countries worldwide, which had imposed economic sanctions or severed diplomatic ties.

Countries included in the list of “unfriendly” countries with Russia include the United States and Canada, European Union states, the United Kingdom (including Jersey, Anguilla, the 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 governed independently since 1949).

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

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Russian Prime Minister Mikhail Mishustin stated that this list now includes countries that have taken “unfriendly actions” against Russia, particularly regarding Russia’s diplomatic and consular representations abroad.

In July, Russian authorities provided a list of 10 requirements that would further complicate matters for foreign businesses 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, the proceeds from the sale of their company to Russian owners may not be transferred abroad. — DSA

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