Are there countries that Singapore is not allowed to conduct business transactions or trade relations with?
As a member of the United Nations, Singapore implements the UNSC resolutions. Specifically, the import into, export from, transhipment and transit through Singapore of certain goods which contravene the UNSC sanctions are prohibited under Regulation 6(1)(b) of the Regulation of Imports and Exports Regulations (RIER). A summary of the prohibited items to or from countries pursuant to the UNSC sanctions or resolutions is available on the Strategic Goods Control webpage. For a comprehensive list of UNSC sanctions, please refer to the UNSC Sanctions Committees website.
As a trader, you also need to be mindful of other unilateral sanctions imposed by other countries on trade or other business transactions including financing relating to entities or goods from certain other countries, as they may have direct or indirect impact on your transactions or businesses. Traders are to exercise due diligence to ensure that the proper authorisation from the relevant supplying/ importing/ originating countries are obtained for the intended transactions. You may refer to Singapore Customs website for some of the unilateral sanctions imposed by other countries.
Where legal advice is required, please seek advice from your legal advisors before you proceed with any transactions that you are uncertain about.