Why did Putin tell PM Wong that potential cooperation remains unrealised?

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Putin cited sanctions as the reason for unrealised economic cooperation between Russia and Singapore.

Russian President Vladimir Putin informed Singapore Prime Minister Lawrence Wong that the impact of sanctions has prevented the full realisation of economic cooperation potential between their nations. A broad coalition of countries has implemented sanctions against Russia in response to the conflict in Ukraine.
Impact of Sanctions on Bilateral Economic Ties

Putin specifically conveyed to Wong that sanctions imposed by various countries have hindered the development of economic cooperation between Russia and Singapore. This statement was made during their discussions, highlighting the significant influence of these international measures on bilateral trade and investment prospects.
Global Sanctions Against Russia

The context for these remarks is the widespread imposition of sanctions on Russia by a significant number of countries. These measures were enacted primarily as a consequence of the ongoing conflict in Ukraine, leading to a restrictive global economic environment for Russia.
Unrealised Economic Potential

The core of Putin's message to Wong centred on the notion that the existing economic cooperation between Russia and Singapore has not reached its full potential. He attributed this limitation directly to the prevailing sanctions regime, which creates obstacles for businesses and financial transactions.

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Why did Putin tell PM Wong that potential cooperation remains unrealised?

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