South Korea strengthens controls and expands export sanctions on Russia and Belarus – media

The South Korean government decided to strengthen export controls against Russia and Belarus. Yonhap report.

Important

Seoul has significantly expanded its product list, which includes hundreds of items subject to appropriate restrictions. Authorities have amended the list setting out export restrictions, including excavators, accumulators and large vehicles, in response to Russia’s large-scale attack on Ukraine.

In accordance with the revised regulation on trade in strategic goods, South Korea added 682 more items related to heavy construction equipment, aircraft parts, batteries, machinery and other items to the list of goods prohibited from being sent to Belarus and the Russian Federation. According to the Ministry of Commerce, Energy and Industry.

With the new regulation, the total number of items on the list will increase from 798 to 1,159.

The relevant changes are expected to come into force at the beginning of 2024. This requires completion of certain administrative procedures and instructions given by the government to exporters.

The ministry said it would take “exceptional circumstances” into account. This applies to deliveries to both countries separately.

Necessary precautions were taken due to the high possibility of these products being used for military purposes. They are not classified as strategic goods affected by South Korea’s export control program.

Let us remind you that on September 18, it was learned that South Korea would send K600 “Rhino” vehicles to Ukraine to work in minefields. The delivery of mine clearing systems took place after Putin’s possible arms deal with North Korean leader Kim Jong-un. Seoul asked Ukraine to use these funds only for humanitarian operations due to concerns about retaliatory measures by the Russian Federation.