The Republic of Korea’s trade minister announced, with U.S. Secretary of Commerce Gina M. Raimondo, it will implement export control policies to join the nations standing against Russia’s invasion of Ukraine.
Korea joins other countries given an exclusion from requirements under the U.S. Russia/Belarus sanctions rules, which strengthens strong export controls, the U.S. Department of Commerce said March 7.
“We, as a proud ally and partner, are pleased to join the global coalition of nations that are standing against Russia’s aggression by implementing stringent export control policies, dedicated to supporting Ukraine in its path towards peace and stability,” Minister of Trade, Industry and Energy Moon Sung Wook said.
The Republic of Korea joins the member states of the European Union, including Japan, Canada, Australia, the United Kingdom and New Zealand.
The nation remains committed to swift and effective export control measures along with its private sector, Trade Minister Yeo Han-koo said.
“We welcome Korea's addition to the list of foreign direct product rules exclusion countries for Russia/Belarus and are strongly committed to implementing swift and effective export control measures in partnership with our private sector,” the trade minister said.
Raimondo said the multilateral coordination on export controls is essential to ensure the response to Russia’s invasion is successful and she was proud to accept the ROK’s commitment.
