Korea Seeks Exemption from UK Sanctions on Russian LNG

Korea's Trade Minister Yeo Han-koo has asked Britain to exempt the country's imports of Russian liquefied natural gas (LNG) from upcoming sanctions, citing concerns over Seoul's energy security. The request was made during a video meeting with Britain's new Minister for Trade Anas Sarwar.

Yeo warned that Britain's plan to ban maritime transport, insurance, and related services for Russian LNG could disrupt Korea's energy supply, particularly for state-run Korea Gas Corp. (KOGAS), which has a long-term contract to purchase LNG from the Sakhalin-II project through March 2028.

The European Union had previously adopted similar sanctions but agreed to exempt LNG shipments from the Sakhalin-II project to Korea and Japan. Yeo urged Britain to follow suit, citing the importance of maintaining stable energy supplies for Korea's economy.