South Korea has broadened the list of items requiring government permission for export to Russia and Belarus to 1,159 categories. This update, reported by RIA Novosti, signals stricter controls that also cover a wider range of vehicles. The decision marks a tightening of trade measures aligned with ongoing sanctions and export restrictions in the region.
According to the official announcement, the total number of controlled items will rise to 1,159. The policy extends beyond passenger cars priced at up to 50,000 dollars to include all cars with engine displacement exceeding 2.0 liters. The expanded restrictions apply to these vehicles as part of the new export regime.
The restrictive measures are slated to take effect at the start of 2024, following the completion of administrative procedures within the country. One justification offered for the broadened scope is the assessed high likelihood that some listed goods could be repurposed for military use.
The move mirrors similar steps seen in the 12th package of sanctions issued by the European Union. The official list of restricted goods was published on December 18, outlining the categories subject to heightened scrutiny and licensing requirements.
Previously, it was stated that the Russian government would provide an additional 39 billion rubles to support domestic automobile manufacturers through the Industrial Development Fund. This financial support aims to bolster local production amid external pressures and supply chain challenges.
Two years into the sanctions regime, many Russian car plants have faced underutilization, with a substantial portion of sites previously owned by foreign operators changing hands to local investors. While some facilities have resumed limited production, most restart efforts are modest and concentrated in a few locations rather than widespread.
Analysts and industry observers note the ongoing shift in the automotive sector within Russia. The combination of export restrictions, domestic incentives, and shifting ownership of manufacturing sites shapes a new landscape for vehicle production and distribution in the coming years.
Questions about future car sales in Russia for 2024 reflect the uncertain environment. Market expectations vary, but the trend points to cautious growth coupled with continued supply constraints and regulatory oversight that influence both production decisions and consumer demand.