The Russian Federation has included Malta in a list of nations it considers ‘unfriendly’, as its military forces continue to besiege Ukraine and displace thousands of people. 

In a statement published on Monday afternoon, the Russian Government said it had approved a list of foreign states and territories that “commit unfriendly actions against Russia, Russian companies and citizens.”

The list includes every other member state of the European Union, Australia, Australia, Albania, Andorra, United Kingdom, including Jersey, Anguilla, British Virgin Islands, Gibraltar, Iceland, Canada, Liechtenstein, Micronesia, Monaco, New Zealand, Norway, Republic of Korea, San Marino, North Macedonia, Singapore, USA, Taiwan (China), Ukraine, Montenegro, Switzerland, Japan.

As an EU member state, Malta is part of that list. 

The list was included as part of a decree on temporary procedures for fulfilling obligations to foreign creditors. 

Russian citizens and companies as well as state entities that have foreign exchange obligations to foreign creditors from “unfriendly” countries will be able to pay them in roubles, as long as the payments exceed 10 million roubles per month. 

Reuters reports that, as of Monday, the rouble has lost more than 40 per cent of its value since the start of the year, accelerating sharply since the February 24 invasion of Ukraine began. 

Sanctions imposed by Western leaders on Russian have seen the country’s economy tumbling, with a Russian financial advisor even toasting to the “death” of the Russian stock market on live television last week. 

The European Union, the US and other Western countries have frozen the assets of Russia’s central bank and banned both citizens and businesses from doing business with Russia’s central financial institutions. 

A number of leading Russian banks will also be removed from the Swift messaging system, which enables money transfers across international borders. 

As well as partaking in EU sanctions, Malta has banned Russian and Belarussian citizens from its citizenship by investment program.