Seoul Seeks Exemption from UK Sanctions on Russian LNG Imports

South Korea's Trade Minister Yeo Han-koo has asked his British counterpart to exempt South Korean imports of Russian liquefied natural gas (LNG) from Britain's upcoming sanctions. The request was made during a video meeting between Yeo and Britain's newly appointed Minister for Trade Anas Sarwar.

Yeo cited concerns over Seoul's energy security, warning that the ban could undermine it and disrupt imports of Russian LNG by Korea Gas Corp. (KOGAS), which has a long-term contract with the Sakhalin-II project off Russia's Pacific coast through March 2028.

The ministry also warned that British insurers suspending reinsurance and other services related to the contract could disrupt shipments. The European Union had agreed last month to exempt LNG shipments from the Sakhalin-II project to South Korea and Japan, a move Yeo urged Britain to follow.