S.Korea probes company on US sanctions list over Russia connection
A South Korea-based company sanctioned by the US over its alleged connection to Russia is currently under investigation by authorities here, a Foreign Ministry official said on Sunday.
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SEOUL: A South Korea-based company sanctioned by the US over its alleged connection to Russia is currently under investigation by authorities here, a Foreign Ministry official said on Sunday.
Daesung International Trading, a company located in South Korea's southeastern city of Gimhae, was one of 93 entities added to an "entity list" for export restrictions by the Bureau of Industry and Security under the US Commerce Department on Friday.
"Regarding the company, we shared information with the US in advance, and our relevant authorities are also currently conducting an investigation," the official said, noting the government plans to continue to work closely with Washington and other key nations in implementing sanctions against Russia, Yonhap news agency reported.
According to a South Korean government official, the head of Daesung International Trading is a Pakistani national.
South Korea's Trade Ministry said it and the country's customs agency are looking into the company's alleged law violations, such as the Foreign Trade Act. After the probe, the government plans to punish and sanction it if any breach of law is found.
The US sanctions were announced on the eve of the second anniversary of Russia's invasion of Ukraine and in the wake of the death of Russian opposition leader Alexei Navalny.