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28 Feb 2022

South Korea bans Exports of Strategic items to Russia and Joins SWIFT Sanctions

The Index Today

Seoul's foreign ministry said on Monday thst the South Korea will tighten export controls against Russia by banning shipments of strategic items and confirmed joining the Western countries' moves to block some Russian banks from the SWIFT international payments system.

The ministry said in a statement, " The Korean government condemned Russia's armed invasion of Ukraine and, as a responsible member of the international community, decided to actively participate in the international community's efforts, including economic sanctions, for a peaceful resolution of the situation."

According to the recent data, among the strategic items that will be controlled are supplies of electronics, semiconductors, computers, information and communications, sensors and lasers, navigation and avionics, and marine and aerospace equipment.

Photo: Bloomberg

Clay pottery with table linens