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Korea bans exports of strategic items to Russia, joins SWIFT sanctions

A truck moves a container at the port of Pyeongtaek in Pyeongtaek,
A truck moves a container at the port of Pyeongtaek in Pyeongtaek, South Korea, July 9, 2020. REUTERS / Kim Hong-Ji / Files

February 28, 2022

SEOUL (Reuters) – South Korea will tighten export controls on Russia, banning exports of strategic goods and joining moves by Western countries to block some Russian banks from the payment system. SWIFT international accounting, the Seoul Foreign Ministry said on Monday.

The Korean government has also decided to promote the release of more strategic oil reserves to stabilize the international energy market and consider other measures such as reselling LNG to Europe, the ministry said in a statement. Father.

“The Korean government condemns Russia’s armed invasion of Ukraine and, as a responsible member of the international community, has decided to actively participate in the efforts of the international community, including economic sanctions, to resolve the situation peacefully.”

Among the strategic items to be controlled are supplies of electronics, semiconductors, computers, information and communications, sensors and lasers, navigation and avionics, and marine equipment. and aerospace.

The ministry added that South Korea will increase humanitarian aid to Ukraine, adding that its decisions have been officially communicated to the US government through diplomatic channels.

(Reporting by Hyonhee Shin and Joyce Lee; Editing by Christian Schmollinger and Michael Perry)

https://www.oann.com/south-korea-bans-exports-of-strategic-items-to-russia-joins-swift-sanctions/?utm_source=rss&utm_medium=rss&utm_campaign=south-korea-bans-exports-of-strategic-items-to-russia-joins-swift-sanctions Korea bans exports of strategic items to Russia, joins SWIFT sanctions

Caroline Bleakley

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