All news

South Korea to have FDPR exception for export to Russia — Ministry

The US side noted that export restrictions of the Republic of Korea against Russia correspond to measures of the international community and agreed to add South Korea into the list of countries with the exception made from the foreign direct product rule

SEOUL, March 4. /TASS/. The Republic of Korea will have the right for its companies not to apply for licenses to US authorities during technology products export to Russia but export restrictions of Seoul will be in line with sanctions of other Western states, the South Korean Ministry of Trade said on its website.

"The US side noted that export restrictions of the Republic of Korea against Russia correspond to measures of the international community and agreed to add South Korea into the list of countries with the exception made from the foreign direct product rule," the Ministry said.

Washington introduced the foreign direct product rule (FDPR) as the sanction against the Russian technology sector. It implies the need to have a license from US authorities for export of products with US technologies from third countries to Russia. Countries exempt from this rule introduce similar sanctions and issue the permit independently. 32 countries received such right from Washington earlier.

"The government will take further measure of export control in accordance with the like measures of the international community and the US," the Ministry said.

FDPR list comprises 57 positions in such areas as semiconductors, computers, IT, sensor and laser equipment, aviation and aerospace sectors.