Government: "South Korea and the U.S. Will Closely Consult on Implementing Sanctions Against Russia"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] The government announced that it will take various measures through close consultations with the U.S. regarding the inclusion of South Korea among the countries exempted from the U.S. Foreign Direct Product Rule (FDPR) related to Russia.

An official from the Ministry of Foreign Affairs stated on the 4th, "The two countries, South Korea and the U.S., will continue to closely consult on various diplomatic and economic measures, including the implementation of sanctions against Russia, to resolve the Ukraine situation."

The government was excluded from the first list of FDPR-exempt countries announced by the U.S. Department of Commerce on the 24th of last month. This led to criticism that the government's initial response to sanctions against Russia was passive.

In response, our government requested FDPR exemption through diplomatic and security channels, and on the 3rd (local time), Yeo Han-gu, Director-General for Trade Negotiations at the Ministry of Trade, Industry and Energy, met with the Department of Commerce and agreed with the U.S. to include South Korea in the list of FDPR-exempt countries. A Ministry of Foreign Affairs official explained, "Through diplomatic and security channels, we strongly requested FDPR exemption by explaining our government's various contributions, including participation in sanctions against Russia and humanitarian aid to Ukraine." The U.S. is expected to announce the list of FDPR-exempt countries, including South Korea, in the official gazette within a few days.

This content was produced with the assistance of AI translation services.