UK Exempts South Korea from Sanctions on Russian LNG Imports

▲ An LNG carrier for the Sakhalin-2 project (File Photo)

The United Kingdom has exempted South Korea from regional sanctions regarding its imports of Russian liquefied natural gas (LNG), Reuters reported on October 1 local time.

The British government has issued a temporary license allowing its domestic companies to participate in the process of South Korea and Japan importing LNG from Russia's Sakhalin-2 project.

This is valid until March 31, 2028, and applies strictly to existing import contracts.

Previously, the UK, much like the European Union, had decided to completely ban domestic companies from providing services such as transportation and insurance for Russian LNG starting January of next year.

The South Korean government had requested a sanctions exemption, citing that disruptions would otherwise occur in importing LNG from the Sakhalin-2 project, which Korea Gas Corporation has contracted through March 2028.

The EU also created an exception clause in its 21st package of sanctions against Russia adopted in July, exempting South Korea and Japan from sanctions related to Russian LNG imports.

(Photo: AP, Yonhap News)

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