President Yoon Suk Yeol expressed optimism on July 25 regarding the European Union's exemption of South Korea from sanctions on Russian liquefied natural gas (LNG) imports, stating it will be a significant benefit to the daily lives of citizens and the economy.
In a post on X (formerly Twitter), President Yoon said, "I was pleased to hear that our companies have been recognized as exceptions to the EU's sanctions on Russian LNG."
He added, "During my discussions with EU leaders in June, I explained the need for exceptional allowances for our energy security and urged their active interest. I will continue to do my utmost to protect the lives of our citizens and national interests through thorough responses."
According to the Ministry of Trade, Industry and Energy, the EU Council adopted the '21st sanctions package against Russia' on July 23, which includes provisions for South Korea's LNG imports. Under this measure, LNG produced in Russia's Sakhalin can be transported to South Korea and Japan without EU sanctions until March 2028.
The government noted that the issue of Russian LNG imports was a key economic and trade topic during the Korea-EU summit held in Brussels on June 10, leading to significant progress in related discussions.
The government has been requesting the EU to apply sanctions exemptions to prevent supply disruptions, as Korea Gas Corporation is set to import 1.5 million tons of LNG annually from the Sakhalin II project from April 2008 to March 2028.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.