South Korea adds nearly 700 items banned from export to Russia, Belarus

South Korea will tighten export controls on Russia and Belarus by significantly expanding the list of restricted export items, including excavators, batteries and larger vehicles, related to the conflict in Ukraine.

Busan Sinseondae Port, South Korea. Photo: YONHAP

South Korea has added 682 items related to heavy construction equipment, rechargeable batteries, aircraft parts, machinery and other items to the list of banned exports to Russia and Belarus, Yonhap news agency reported on December 26. The revision is expected to take effect in early 2024, after completing proper administrative procedures and issuing government guidance to exporters, according to the Ministry of Trade, Industry and Energy.

The new regulation will bring the total number of items on the list to 1,159 from the current 798. The move comes as there is a high possibility that these items will be used for military purposes, although they are not classified as strategic items under South Korea's export control scheme.

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Source: https://www.sggp.org.vn/han-quoc-bo-sung-gan-700-mat-hang-cam-xuat-khau-sang-nga-belarus-post720043.html