Daily Management Review

South Korea will consider reselling gas to Europe


South Korea will consider reselling gas to Europe, the country's foreign ministry said.

Republic of Korea
Republic of Korea
In addition, the republic is promoting additional release of strategic oil reserves. It is noted that such measures are aimed at stabilizing the international energy market amid the Ukrainian crisis.

The South Korean Foreign Ministry has already said that the country joins the allies' sanctions against Russia, but does not intend to impose its own sanctions.

This decision was immediately followed by a reaction from the West. The UK, the EU, the US and Canada imposed sanctions against Russia that had been developed and prepared in advance. 

Russian President Vladimir Putin on 24 February announced the launch of a special operation in Donbas to "demilitarise and denationalise Ukraine".

On Sunday 27 February, the EU decided to ban transactions related to the management of reserves as well as assets of the Central Bank of Russia, including transactions with any entity, organisation or body acting for or on behalf of the Central Bank.

source: reuters.com