[Asia Economy Reporters Yoo In-ho and Lee Ji-eun] It has been reported that a high-ranking official of our government unofficially delivered a warning message to the Russian government regarding the Ukraine situation. This was a statement of the government's position on sanctions against Russia. Given that the Blue House has stated that "military support or dispatch of troops is not applicable" in relation to the Ukraine situation, this move is widely interpreted as being conscious of the United States.
According to the Ministry of Foreign Affairs on the 24th, a government official visiting Paris, France to attend the 'Ministerial Meeting for Indo-Pacific Cooperation,' said at a meeting with correspondents on the 23rd (local time), "South Korea, while showing a cautious attitude toward joining the US-led sanctions against Russia, conveyed an opinion asking Russia to exercise restraint." The official said, "The Korean government strongly opposes any infringement on the sovereignty and territorial integrity of UN member states by other member states in accordance with the UN Charter," and added, "A warning stance like this was conveyed to Russia at a fairly high-level line."
However, the official firmly ruled out the possibility of our government imposing independent sanctions. Regarding the possibility of unilateral sanctions against Russia, he responded, "Since Russia is a key country in the New Northern Policy, it seems realistically difficult." This is interpreted to mean that while it is hard to ignore the US's request for support and backing regarding the Ukraine situation, relations with Russia are also important.
Russia is South Korea's 10th largest trading partner, and many Korean companies have established operations there. The fact that South Korea cooperates with Russia in the energy sector, such as importing liquefied natural gas (LNG), also acts as a burden.
Joining the US sanctions is also difficult at present.
The official said, "Even if we join the sanctions, it is not easy to minimize economic damage," and added, "Various ministries are considering multiple options." The government did not join the US-led coalition of sanctions when Russia annexed Crimea in 2014 and the US imposed sanctions on Russia.
Professor Kim Heung-gyu of Ajou University said, "We are not a country that controls the world order, and even if we impose sanctions, the effect would not be significant," adding, "There are many intertwined businesses with Russia, such as automobiles and energy."
A Blue House official also told reporters, "We are reviewing various possibilities, but military support or troop dispatch does not apply to us," and said, "Since the future development of the Ukraine situation is uncertain, the government is keeping all possibilities open and preparing for various scenarios."
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