Seoul viewSEUL, Mar 7South Korea decided to join additional sanctions against Russia in the financial sector, including the termination of transactions with the Central Bank of the Russian Federation and other measures, the Ministry of Foreign Affairs of the Republic of Korea said. adoption — ed.) of such sanctions by the international community, join additional sanctions measures, including stopping operations with the Central Bank of the Russian Federation and others,» the Foreign Ministry said in a statement. The South Korean side will announce what specific measures will be taken after consultations with relevant departments within the country. Seoul will also announce its decision to the US and other countries involved. Seoul has already joined international sanctions against seven Russian banks, including Sberbank, VEB, Promsvyazbank, VTB, Otkritie, Sovcombank and Novikombank and their subsidiaries. At the same time, transactions related to the supply of agricultural products in the fields of energy and medicine will be allowed. Yuzhnaya also supported the disconnection of a number of Russian banks from SWIFT and strongly recommended that all government agencies and financial institutions stop making transactions involving Russian government bonds issued after March 2. 
The Singapore government will stop investing in securities of the Central Bank of Russia. In addition, the Republic of Korea announced the cessation of exports of strategic materials to the Russian Federation, banned the export of 49 Russian companies from the US sanctions list, which includes the Russian Ministry of Defense. Also, the country is now developing additional export control measures for non-strategic goods, similar to those introduced by the United States. This process was reported to take at least one to two months. Russia launched a special military operation in Ukraine on 24 February. Russian President Vladimir Putin called it «the protection of people who have been subjected to bullying and genocide by the Kiev regime for eight years.» For this, according to him, it is planned to carry out «demilitarization and denazification of Ukraine» and bring to justice those responsible for crimes against the inhabitants of Donbass. With the support of the Armed Forces of the Russian Federation, the DPR and LPR groups are developing an offensive. At the same time, as the President of Russia emphasized, there is no question of the occupation of Ukraine. In response, Western countries began a new round of the sanctions spiral, which has been unwinding since 2014. Several major Russian banks, including Sberbank and VTB, fell under the new restrictions. A number of state-owned companies found it difficult to attract foreign capital. Sanctions have been imposed on the supply of high-tech products to Russia. As the press secretary of the President of the Russian Federation Dmitry Peskov said earlier, the Western sanctions are very serious, Russia was preparing for them in advance. He added that they require analysis and coordination of departments in order to develop response measures that meet the interests of the Russian Federation. Speaking about foreign companies leaving Russia, he said that others could take their place in the future. Western companies that refuse to work with Russia did so under great pressure, but Russia will solve all the problems with the economy that the West creates for it, said earlier Russian Foreign Minister Sergey Lavrov.
