Global Trade Alert
Global Trade Alert

Republic of Korea: Government imposes sanctions package on Russia in response to the Ukrainian crisis

Announcement

28 Feb 2022

On 28 February 2022, the Republic of Korea imposed sanctions on Russia in response to the Ukrainian crisis.

Source

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Number of interventions

2

2 certainly harmful

0 likely harmful

0 liberalising

List of interventions

Implementation date

01 Mar 2022

Revocation date:

No revocation date

Announced: 28 Feb 2022
Controls on commercial transactions and investment instruments In force
On 1 March 2022, the South Korean Ministry of Economy and Finance (MOEF) announced financial sanctions against seven Russian financial institutions, namely Sberbank, Corporation Bank for Development a...
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Implementation date

28 Feb 2022

Revocation date:

No revocation date

Announced: 28 Feb 2022
Export ban In force
On 28 February 2022, the South Korean Ministry of Economy and Finance (MOEF) implemented export bans on 'strategic goods' to Russia. Strategic goods are any goods, software, or technology that can be ...
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Related State Acts

Announced: 24 Apr 2023

Republic of Korea: Government imposes further export license requirements on Russia and Belarus

Announced: 24 Mar 2022

Republic of Korea: Government imposes export license requirements on Russia and Belarus

Announced: 18 Mar 2022

New Zealand: Government implements sanctions part of the Russia Sanctions Act 2022

Announced: 07 Mar 2022

Republic of Korea: Ministry of Economy and Finance publishes additional sanctions against Russia

Announced: 06 Mar 2022

Republic of Korea: Government imposes export controls on Belarus

Announced: 04 Mar 2022

Republic of Korea: Korean Financial Services Commission announces KRW 2 trillion in support for SMEs affected by Ukraine conflict

Announced: 28 Feb 2022

Republic of Korea: Government imposes sanctions package on Russia in response to the Ukrainian crisis

End prolongation: 30 Jun 2023

Turkiye: Government bans the export of olive oil, beans and lentils due to Russian invasion of Ukraine

Announced: 25 Feb 2022

EU: Export ban on dual-use, oil refining and aviation goods and technology to Russia

Announced: 24 Feb 2022

Australia: Government expands the list of financial institutions targeted by sanctions imposed in response to the crisis in Ukraine

Announced: 24 Feb 2022

United States of America: Department of Treasury announces sanctions against Russian financial sector

Announced: 24 Feb 2022

Japan: Government announces sanctions against Russia and regions in eastern Ukraine following Russian recognition of two Ukrainian separatist regions

Announced: 24 Feb 2022

United Kingdom: Government announces a set of sanctions against Russia due to Russia’s invasion of Ukraine

Announced: 24 Feb 2022

New Zealand: Prime Minister implements various sanctions on Russia as a result of Ukraine conflict

Announced: 21 Feb 2022

United States of America: Prohibition of certain transactions in response to Russian violation of Ukraine’s sovereignty and territorial integrity

Announced: 18 Feb 2021

Republic of Korea: Ministry of Science and ICT announces K-Cyber Promotion Strategy

Announced: 03 Jul 2020

Republic of Korea: Government releases 2020 third supplementary budget as a result of COVID-19

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