European Union grants sanctions exemption for South Korea's Sakhalin II LNG imports
EU eases uncertainty in energy supply and demand by exempting South Korea's LNG imports from sanctions Expectations for stabilizing people's livelihoods and the economy with permission to import Sakhalin II
The European Union (EU) has exempted related sanctions until March 2028 so that South Korea can import liquefied natural gas (LNG) produced from Russia's Sakhalin II project.
President Lee Jaemyung said in a post on the social networking service X while on an overseas trip on the 25th that this measure would help the public's daily lives and the economy amid growing uncertainty over energy supply and demand. He also said that during his meeting with EU leaders last June, he explained that allowing an exception was necessary for South Korea's energy security.
On the 23rd, the EU included South Korea among the exceptions when it adopted its 21st sanctions package against Russia. The government explained that this was the result of progress in consultations related to imports of Russian LNG after the KoreaEU summit, and that it had requested that LNG supply and demand proceed without disruption under Korea Gas Corporation's longterm contract.