S. Korea-based company on U.S. sanctions list against Russia, but will it make a difference?

‘對러 고강도 제재’ 실효성은 ‘의문’ 대러제재 포함된 韓 기업 조사 중 Last week, the U.S. announced new sanctions list against Russia, --a day before the second anniversary of Moscow’s full-invasion of Ukraine. It’s targeting more than 500 individuals and entities, --among which is a South Korea-based firm. Our Bae Eun-ji takes a closer look at a possible impact of the sanctions. A day before the second anniversary of the Russian invasion of Ukraine, the U.S. announced on Friday more sanctions against Russia, targeting more than 500 people and entities. “That’s why I’m announcing more than 500 new sanctions in response, in response to Putin’s brutal war of conquest in response to Alexei Navalny’s death. Because make no mistake, Putin is responsible for Alexei’s death.“ Among the 93 entities on the new sanctions list is a South Korea-based company called Daesung International Trading, located in South Korea’s southeastern city of Gimhae. An official from Seoul’s foreign ministry said Monday that the head of the company is a Pakistani national, and the government had shared information with the U.S. in advance. The country’s trade ministry and the customs agency are also currently conducting investigations into the company, to look for possible law violations. And another company run by South Korean nationals in Ireland was also added to the list. The firm, Cubit Semiconductor, was sanctioned for reportedly exporting sensitive electronic components to a Russian manufacturer. However, there are doubts about whether these sanctions will have a strong impact on Russia. One expert says the Russian economy has proven to be resilient despite the sanctions imposed by the U.S. and European countries in the past, partly because Western countries have been hesitant, worrying that the sanctions may affect the global and regional economies. “The sanctioning of exports of Russian oil to other countries might drive all oil prices up, which I think will also hurt oil price management in the United States. So I think all these factors, if applied in the same way, they won’t be as effective as the U.S. and Western countries expect.“ Another expert says imposing sanctions on more individuals and companies in countries outside of Russia is “a signal to other international actors that there’s a price to be paid for working with Moscow to help them evade the sanctions,“ but also raised doubts about their effectiveness. “So I don’t think this is going to change the game. The one thing that can really change the game is getting weapons to the Ukrainians immediately and getting them long-range artillery. That’s the thing that will change this.” Bae Eun-ji, Arirang News. #Daesung_International_Trading #US_sanctions_list #Entity_List #Russia #Ukraine_war #foreign_ministry #SouthKorea #대러제재 #미우려거래자목록 #대성국제무역 #Arirang_News #아리랑뉴스 📣 Facebook : 📣 Twitter : 📣 Homepage : 2024-02-26, 18:00 (KST)