Loopholes help South Korean firms continue exports to Russia despite sanctions



Analysis Loopholes help South Korean firms continue exports to Russia despite sanctions Sending goods via Chinese subsidiaries risks straining ties with US and NATO and exposes companies to investigation John LeeOctober 14, 2024 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Different ways of transporting cargo \| Image: Korea South Korean companies continue to export goods to Russia via subsidiaries in China, bypassing export restrictions imposed after Moscow’s invasion of Ukraine, according to a report by the Royal United Services Institute (RUSI). While these companies benefit economically, the potential geopolitical risks for South Korea of not complying with Western-led sanctions are significant. South Korean companies continue to export goods to Russia via subsidiaries in China, bypassing export restrictions imposed after Moscow’s invasion of Ukraine, according to a report by the Royal United Services Institute (RUSI). While these companies benefit economically, the potential geopolitical risks for South Korea of not complying with Western-led sanctions are significant. Get 30 days of free access to KoreaPro Full access to all analysis The KOREA PRO newsletter, every business day Daily analysis on the top story of the day The ability to suggest topics for coverage by our specialist team Be smart about South Korea Get full access to expert analysis and opinion. Start now No charges during your trial. Cancel anytime. A paid subscription will start after 30 days. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Briefing Start your day with the South Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily Briefing. LATEST ANALYSIS 01Ukraine’s arms request puts South Korea in a diplomatic and logistical dilemma 02South Korea’s bid to overhaul corporate governance faces key enforcement hurdles 03Yoon and South Korea’s opposition pivot on policy, eyeing political center 04South Korea leverages climate deals abroad but faces environmental scrutiny 05Why South Korea’s ambitious plan to phase out coal faces serious headwinds 06South Korea-Japan dispute over Sado mine casts shadow over bilateral ties 07Seeking new markets, South Korea sets sights on defense deals with Latin America 08South Korea’s women-only universities weigh co-education as enrollments decline

Analysis

Loopholes help South Korean firms continue exports to Russia despite sanctions

Sending goods via Chinese subsidiaries risks straining ties with US and NATO and exposes companies to investigation

John LeeOctober 14, 2024

Loopholes help South Korean firms continue exports to Russia despite sanctions

Different ways of transporting cargo | Image: Korea

South Korean companies continue to export goods to Russia via subsidiaries in China, bypassing export restrictions imposed after Moscow’s invasion of Ukraine, according to a report by the Royal United Services Institute (RUSI).

While these companies benefit economically, the potential geopolitical risks for South Korea of not complying with Western-led sanctions are significant.

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Loopholes help South Korean firms continue exports to Russia despite sanctions

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Loopholes help South Korean firms continue exports to Russia despite sanctions

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