The foreign ministry said in a statement it had decided to ban all financial dealings with the Central Bank of Russia ‘considering the international community's financial restrictions against Russia’.
South Korea's decision comes as Western governments, international sporting organisations, and a growing list of major companies have worked to isolate Russia, levelling punishing sanctions over its attack on its neighbour.
South Korea earlier said it would tighten export controls against Moscow by banning shipments of strategic items. It also joined Western countries in suspending financial transactions with several major Russian banks.
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