[Asia Economy Reporter Yoo In-ho] The U.S. administration has responded positively to the South Korean government's declaration condemning Russia and its participation in expanding sanctions.


There were concerns that the South Korea-U.S. alliance might be shaken as the South Korean government appeared passive in the Western countries' sanctions front against Russia led by the U.S., including exclusion from the Foreign Direct Product Rule (FDPR) exceptions. However, the U.S. administration later took a proactive stance, allowing the foundation of the South Korea-U.S. alliance to be maintained, analysts say.

[Image source=Yonhap News]

[Image source=Yonhap News]

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U.S. Secretary of State Antony Blinken stated on the 2nd (local time) in a statement regarding South Korea's participation in sanctions against Russia following Russia's invasion of Ukraine, “The United States and South Korea stand shoulder to shoulder in support of Ukraine.”


Secretary Blinken evaluated, “South Korea's economic sanctions against Russia will contribute to protecting Ukraine's territory, sovereignty, and freedom,” adding, “This demonstrates South Korea's commitment to upholding a rules-based international order.” This is the first mention of commitment to South Korea by Secretary Blinken since Russia's invasion of Ukraine.


Secretary Blinken emphasized, “South Korea supported international efforts to isolate Russia from the global financial and technology trade by removing selected Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment network and suspending transactions with major Russian banks.”


He continued, “South Korea's release of strategic petroleum reserves will also contribute to stabilizing the international energy market,” and said, “Our joint actions demonstrate unity and reaffirm the determination of the United States, South Korea, our allies, and partners regarding Russia's invasion of Ukraine.”


Earlier, the South Korean government declared at the United Nations, “We strongly condemn Russia's armed invasion of Ukraine.” Regarding sanctions against Russia, South Korea announced it would implement sanctions including the exclusion of Russian banks from SWIFT, in line with the United States, the Group of Seven (G7) countries, and the European Union, and also take virtually independent measures such as blocking exports of strategic materials.


In diplomatic circles, although South Korea's active participation in condemning Russia and sanctions came somewhat late, there is a prospect that the South Korea-U.S. alliance can continue.


The fact that the U.S. administration officially announced including South Korea in the FDPR exception after Secretary Blinken's response is evidence of this.


The Ministry of Trade, Industry and Energy announced that on the 3rd (local time), Ye Han-gu, the head of the Trade Negotiations Bureau, met with Don Graves, U.S. Deputy Secretary of Commerce, and Darling Singh, Deputy Assistant to the National Security Council (NSC) and National Economic Council (NEC), in Washington D.C. to reach this agreement.


During this meeting, the U.S. decided to include South Korea as an FDPR-exempt country related to export controls on Russia. This decision was based on the judgment that South Korea's implementation plan for export controls against Russia met the sanction levels of the international community. The FDPR is a measure that prohibits exports if products are produced using U.S. technology or software (SW), even if they are made in a third country outside the U.S.


Accordingly, it is expected that South Korea and the U.S. will continue close cooperation regarding sanctions against Russia. A diplomatic expert said, “As seen in the recent sanctions against Russia and FDPR negotiations, the South Korea-U.S. alliance remains strong,” adding, “To achieve results in defense, diplomacy, and economic sectors, close consultations through various channels are necessary.”





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