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As pressure from the international community continued, Russia announced a list of unfriendly countries in response to it.
Korea was also included in the list, so what would change and what kind of damage would be a concern, reporter Jo Ki-ho covered it.
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Russia has placed 48 countries, including Korea, the United States, EU member states, Japan, and Canada, on the list of 'unfriendly countries'.
It appears to be a retaliatory measure against countries that have joined the Russian sanctions.
According to the designation of a non-friendly country, remittance in dollars to Korea was first banned.
It has become difficult for over 40 companies, including Samsung, LG, and Hyundai, which have local factories, to deal with money.
An official from the Korea Trade-Investment Promotion Agency and KOTRA said, "The remittance ban was not officially announced by the government, but by the Central Bank of Russia notifying ordinary banks."
Russia has also made it possible to repay debts owed to non-friendly countries in rubles instead of dollars through a presidential decree.
It has not yet been decided whether or not even business-to-business transactions will be replaced with the ruble.
An official from the Ministry of Industry said, "Russia has announced follow-up measures 1-2 weeks after announcing the first sanctions in the past, so we have to watch the situation afterwards."
In a situation where the value of the ruble has plummeted, if the ruble is used as a payment method, Korean companies will incur huge foreign exchange losses.
Russia also requires companies from non-friendly countries to obtain state approval before doing business with their own companies.
Although there is no specific explanation on the subject of approval, it seems that real estate and securities transactions will be strictly regulated.
(Video Edit: So-Young Lee)
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