Seoul, March 7: South Korea is joining the additional Western sanctions targeting Russia’s financial sector and will be severing transactions with the Bank of Russia (Central Bank), the South Korean Ministry of Foreign Affairs said on Monday.
“In addition to the sanctions against Russia in the financial sector adopted on March 1, the South Korean government decided on March 7… to join additional sanctions measures, including halting operations with the Central Bank of the Russian Federation,” the foreign ministry said. The full list of restrictions will be announced after consultations with all the relevant South Korean departments, the ministry specified.
Last Monday, the South Korean foreign ministry said that Seoul had decided to join international sanctions and ban the export of strategic materials to Russia amid the situation in Ukraine.
