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The South Korean government has prepared its New Year’s gift for the Russians. Republican authorities have expanded the list of so-called export controls – goods whose delivery is
South Korea’s Ministry of Trade, Industry and Energy has expanded the list of goods banned from supply to Russia and Belarus to 1,159 items. In addition to construction machinery, batteries and parts for aviation equipment, the 682 new items also included passenger cars with an engine capacity of more than 2,000 cubic meters. Until now, export restrictions to the Russian Federation only applied to cars costing more than $50,000; the engine capacity was not regulated in any way.
As a reason for expanding the restrictions, the Korean authorities indicate that there is a “high probability” that these goods will be used for military purposes. “The general rule is a ban on the export of goods on the list. However, provision is also made for the issuance of individual permits after special checks in cases where a number of conditions are met – for example, concluding a contract before the restrictions come into effect or supplying subsidiaries,” the ministry said.
The innovations will come into effect in 2024.
South Korea’s Ministry of Trade, Industry and Energy has expanded the list of goods banned from supply to Russia and Belarus to 1,159 items. In addition to construction machinery, batteries and parts for aviation equipment, the 682 new items also included passenger cars with an engine capacity of more than 2,000 cubic meters. Until now, export restrictions to the Russian Federation only applied to cars costing more than $50,000; the engine capacity was not regulated in any way.
As a reason for expanding the restrictions, the Korean authorities indicate that there is a “high probability” that these goods will be used for military purposes. “The general rule is a ban on the export of goods on the list. However, provision is also made for the issuance of individual permits after special checks in cases where a number of conditions are met – for example, concluding a contract before the restrictions come into effect or supplying subsidiaries,” the ministry said.
The innovations will come into effect in 2024.
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
