S Korea bans transactions with Russian Central Bank

SEOUL: MARCH. 8 – The Korean government has imposed additional sanctions against Russia, including suspension of transactions with the Russian central bank.

The Ministry of Foreign Affairs said on Monday, “Following the sanctions against Russia taken effect since March 1, Korea has decided to join additional sanctions such as banning transactions with Russian central bank in consideration of the international community’s level of economic sanctions on Russia.” The Korean government has previously banned transactions with seven Russian major banks such as Sberbank as a part of sanctions against Russia following Russia’s invasion of Ukraine.

The Foreign Ministry said, “We will announce the details related to additional sanctions against Russia after discussing with related ministries.” The ministry is also planning to inform the decision to related countries, including the US.

-ANI/Global Economic