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S. Korea notifies U.S. of decision to ban exports of strategic materials to Russia

All News 13:46 February 28, 2022

SEOUL, Feb. 28 (Yonhap) -- South Korea has decided to ban exports of strategic materials to Russia as part of efforts to join international sanctions against Moscow following its invasion of Ukraine, Seoul's foreign ministry said Monday.

Seoul also plans to join the international move to exclude Russia from the SWIFT payment system and notified the United States of the decision via a diplomatic channel, according to the ministry.

Washington earlier announced restrictions on exports of U.S. origin technology and products to 49 Russian military entities, including its defense ministry.

The sanctions apply to semiconductors, computers, telecommunications, information security equipment, lasers and sensors, and cover items produced in the U.S. or foreign items produced using U.S. equipment and software.

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