Russia warns of retaliation against Korea's export restrictions

Economy

Published: 28 Dec. 2023, 11:02 Updated: 28 Dec. 2023, 18:39

Russia warns of retaliation against Korea's export restrictions

Russian Foreign Ministry spokeswoman Maria Zakharova attends a news conference in Moscow. [REUTERS/YONHAP]

Russia has warned Korea that it could retaliate against Korea's export restrictions against the country.

Korea's Trade Ministry added 682 items to the list of items that are banned from shipping to Russia and Belarus on Tuesday.

The items include heavy construction equipment, rechargeable batteries, aircraft components and machinery.

Trade Ministry bans exports of 682 more items to Russia, Belarus

"This is an unfriendly move taken at Washington's behest. It will damage South Korea's own economy and industry," Russian Foreign Ministry spokeswoman Maria Zakharova said on Wednesday, according to Reuters.

"We reserve the right to take measures in response, and not necessarily symmetrical ones. [Koreans] should not be surprised [if and when we do]," Zakharova added.

The Trade Ministry said the export restrictions to Russia and its politico-military ally Belarus were made in response to Russia's invasion of Ukraine.

The move came as chances are high for those items to be used for military purposes, though they are not classified as strategic items under Korea's export control scheme.

The revision is expected to take effect in early 2024 following due administrative procedures and the government's issuance of guidelines for exporters.

Some "exception cases" for shipments to the two nations could be made after case-by-case reviews, the ministry said Tuesday.

BY KIM JU-YEON [kim.juyeon2@joongang.co.kr]