Don Agro's external sanction counsel confirms no violation of sanctions arising from Russia invasion

RUSSIA-BASED Don Agro GRQ stated that its external sanctions counsel has confirmed that the group, including its associated companies, does not have activities that are prohibited transactions under the recently imposed sanctions arising from Russia invasion of Ukraine.

In its additional statement it furnished to allay the concerns of the Singapore Exchange, the agricultural company said on Sunday (Mar 13) that no member of the group and none of its substantial shareholders, directors or executive officers are being sanctioned by Singapore, the United States, the United Kingdom, the United Nations, the European Union and Australia.

Also, neither its directors nor its shareholders and key officers are acting on the direction of Russia, its government, or the Russian central bank. There is no business or other relationship ongoing with any sanctioned entities, sanctioned individuals or the Russian government that will likely give rise to findings of sanctions violations by Singapore and other jurisdictions mentioned earlier.

Don Agro engages in the cultivation of agricultural crops and production of raw milk in Russia.

The Catalist-listed counter closed flat at S$0.305 last Friday.

READ MORE:

Don Agro to seek legal views on implications of Russian sanctions

Russia-based Don Agro says operations face minimal impact from current events