South Korea will begin banning strategic item exports to Belarus this week, according to the finance ministry, because the former Soviet republic has been aiding Russia's invasion of Ukraine.

According to sources, South Korea banned shipments to 49 Russian organisations and enterprises last week, including Russia's defence ministry.

With a few exceptions, the measure requires a licence to export or transfer large items to certain businesses."We have decided to apply the export embargo on Belarus as well," the Ministry of Economy and Finance stated in a statement. "We have established that the Republic of Belarus has been effectively aiding Russia's invasion of Ukraine."

Two Belarusian entities, including the defence ministry, have been sanctioned by the government. "We will swiftly notify the United States of our decision and will increase our support for South Korean enterprises and our citizens residing abroad who may be affected by the measure," the statement stated.

In 2021, South Korea's exports to Belarus totaled $70 million, accounting for barely 0.01 percent of the country's total outbound sales. Imports were anticipated to be $80 million, accounting for 0.01 percent of the total.

Following the global decision to exclude Moscow from the SWIFT global payment network, the ministry wants to provide legal advising services to South Korean enterprises that may face conflicts with Russian counterparts.

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