Changi Airport hit by Russia-related sanctions

The group will comply with both legal and regulatory obligations set by the Russian government. 

Changi Airports International (CAI), a subsidiary of Changi Airport Group, revealed their 30% equity stake in Transport AMD-2 Limited, a holding company based in Russia.

Following an announcement by the Singapore government regarding sanctions against Russia last 5 March 2022, Russia has named Singapore on a list of countries that would need approval by a Russian government commission for all corporate transactions. Falling under this are any transactions that CAI would take in regards to its Russian investments.

“The evolving Russia-Ukraine conflict and the global response to the same will potentially impact the underlying operations of the abovementioned Russian airports and their value,” explained the Group.

Currently, the group is monitoring the situation and assessing the impact of these developments on its Russian investments.