Apparently yes...
"In particular, we will impose export controls on items that can be used directly as weapons in Ukraine to inflict harm or to subjugate the Ukrainians," he said.
"We will also block certain Russian banks and financial transactions connected to Russia," he added.
Balakrishnan said specific measures were being worked out and would be announced shortly.
Singapore's move is the first among its regional neighbours and comes independent of the Association of 10-member Southeast Asian Nations (ASEAN) of which it is a member.