Cars with engines of 2.0 liters or more are now subject to restrictions.
Many countries have limited the supply of cars produced on their territory to the Russian automobile market (in some cases, the process also affected Belarus). South Korea also made a corresponding decision last spring. Then the country banned the export of cars and spare parts to these countries worth 50 thousand dollars or more (the threshold amount is equivalent to approximately 4.6 million rubles at the current exchange rate).
In the photo: Hyundai Palisade
Now South Korea has decided to expand the list of restrictions on the supply of cars to the Russian Federation and Belarus. The ban now includes all cars with engines of 2.0 liters or more. The changes will come into force at the beginning of 2024. The corresponding message is posted on the website of the Ministry of Trade, Industry and Energy of South Korea.
The department’s message also notes that in some cases permits will still be issued for the supply of cars with 2.0-liter or more engines to Russia and Belarus. This will include situations in which the contract for the dispatch of machines was concluded before the new restrictions came into force. At the same time, the South Korean authorities promised to conduct additional verification of the legality of all these supplies.
In the photo: Kia K9
Let us remind you that the Korean company Hyundai sent its Russian plant into idle mode last year. Hyundai Solaris and Creta, as well as Kia Rio were previously produced here. Recently, the manufacturer officially announced that the Russian company Art-Finance (a part of the large auto dealer holding Avilon) will become the new owner of the HMMR enterprise in St. Petersburg.
According to information unconfirmed by the manufacturer, the deal to sell Russian assets includes a buyback option within two years (a similar decision was made by other foreign manufacturers — Renault, Nissan and Mazda). In addition, it is noted that the transaction amount was 10,000 rubles (at the current exchange rate, equivalent to approximately 140.5 thousand Korean won or 108 US dollars).
In the photo: Hyundai Santa Fe (MX5)
It is worth recalling that at the end of July Japan introduced a ban on the export to the Russian Federation of all hybrids, electric cars, as well as gasoline and diesel cars with engines with a displacement of more than 1. 9 liters. This ban includes both new and used cars. The list also includes some auto components — car locks, car seats and tires for large vehicles. The restrictions came into force on August 9; Before that, Japan banned the supply of only luxury cars.
The United States and Europe introduced restrictions on the supply of cars to the Russian Federation in the spring of 2022. In the Old World, cars whose price exceeds 50 thousand euros were banned; and a document prepared by the US Department of Commerce suggests that the restrictions apply generally to all American-made passenger cars.