South Korea has expressed concern regarding the United Kingdom’s plan to implement a total ban on insurance and maritime transport for Russian liquefied natural gas (LNG) starting in January 2027.
During a telephone conversation between Yeo Han-koo, trade negotiations curator at the Ministry of Trade, Industry and Energy of the Republic of Korea, and British Trade Minister Anas Sarwar, Seoul warned that these measures could compromise the country’s energy security.
The primary risk for Seoul centers on the Sakhalin-2 project. The state-owned Korea Gas Corporation (KOGAS) is bound by a long-term contract to purchase gas from the island until 2028.
Because the transport of LNG from Russia to Asia relies on international insurance and tanker fleet operations, British restrictions could block logistics despite existing contracts.
| Parameter | Details |
|---|---|
| Supply Object | LNG from Sakhalin-2 project |
| KOGAS Contract Term | Until 2028 |
| UK Ban Effective Date | January 2027 |
The South Korean side reminded London that the European Union has already reached a compromise. Under the EU’s 21st sanctions package, an exception was made for Seoul, permitting financial and transport support for Sakhalin-2 supplies until 2028.
Yeo Han-koo, Ministry of Trade, Industry and Energy: Urged British authorities to consider the difficulties facing private business and the necessity of global energy market stability.
Both parties intend to maintain communication to find a resolution that avoids the cessation of gas supplies to South Korea.
Pravda / ABC Flash Point News 2026.
Smart positioning …………
This isn’t just a case of Britain being bloody minded and while the American government has influence on Westminster Britain and particularity England has hated Russia for over 100 years . The only change was a few years during WW2 but even then it was only to stop increased Nazi bombardment of the UK . Churchill hated Russia at the end of the war Churchill wanted the USA to attack Russia . England thought more of Herr Hitler than it did of Russia Hitler got top Foreign office personnel on fast planes as well as the PM at the time.… Read more »
The west controls the high seas through insurance obligations offered by Lloyd’s
You would think so HSW but read the Linkedin article where it says Russia has issued its own insurance which has led to sabotage by the west in setting Russian tankers on fire or boarding them to check for insurance . Russia is now escorting its tankers to stop this warlike action — linkedin.com/pulse/one-three-russian-shipping-playbook-berk-saglik-cpx4e The west are actually breaking and ignoring international law on the same scale Netanyahu does to every international law of any sort –ignore it. BTW – India approves of Russian ship insurance and Lloyds of London are upset that Russia is issuing its own insurance (links… Read more »
That is good news, and for China’s New Silk Road non maritime route most stuff goes over land by train and trucks. So bye bye Lloyds of London, time to depart from UR scene.or deteriorating scheme?