South Korea Bans Exports of Strategic Items to Russia, Joins SWIFT Sanctions

SEOUL: South Korea will tighten export controls against Russia, banning exports of strategic items, and join moves by Western countries to block some Russian banks from the SWIFT international payments system, it said on Monday. Seoul Foreign Ministry.

The Korean government has also decided to promote the additional release of strategic oil reserves for the stabilization of the international energy market and to further consider other measures such as the resale of LNG to Europe, the official said. ministry in a statement.

“The Korean government has condemned 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, for a resolution peaceful situation,” the statement said.

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

South Korea will step up humanitarian aid to Ukraine, the ministry added, saying its decisions had been officially notified to the US government through diplomatic channels.

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


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