On Saturday, February 24, South Korea will begin to tighten export controls on Russia and Belarus, Yonhap reports, UNN reports.
Details
The Ministry of Trade, Industry and Energy has added 682 items to the list of goods banned from supply to these countries. These are goods that "have actual or potential military use.
According to the agency, the list includes heavy construction equipment, batteries, aircraft components and mechanisms. Also, old cars with engines with a capacity of 2 thousand cubic meters are subject to restrictions. In total, the list already includes 1159 items.
It is clarified that although the export of the mentioned goods is prohibited, the South Korean government will separately consider "exceptional cases". No examples of such exceptions are given.
This is a policy that is coordinated with the international community. Government to step up fight against illegal trade
Addendum Addendum
In 2022, South Korea introduced a ban on the export of new cars to Russia. Cars worth more than $50,000 were subject to the restrictions. In December 2023, the South Korean government decided to ban the supply of passenger cars with an engine capacity of more than 2,000 cubic meters to Russia and Belarus.