By Yi Whan-woo
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The move is part of South Korea's independent sanctions in addition to the latest U.N. Security Council resolution against North Korea.
The government said the suspension of the Rajin-Khasan project is part of a set of punitive measures in response to Pyongyang's nuclear test conducted, Jan. 6, and long-range rocket launch, Feb. 7.
The measures include a ban on the entry of foreign ships if they have visited North Korea six months before making a port call here.
The three-way logistics project was aimed at securing a sales route for Siberian coal through a railroad between Russia's border town of Khasan and North Korea's ice-free port of Rajin, from where vessels carried it to South Korean companies.
Involving Chinese-flagged ships, a total of three trial runs took place from 2014 to 2015.
"We've notified Russia of our action concerning the joint project through diplomatic channels," said a government source on condition of anonymity.
It added that Russia regarded South Korea's move as "regrettable."
Moscow threatened to use its veto power at the UNSC unless international sales of Siberian coal through Rajin could continue before joining hands to approve UNSC Resolution 2270 on Pyongyang, last Wednesday.
Lee Suk-joon, who leads the Prime Minister Office's secretariat, said Seoul's unilateral sanctions are expected to play a key role in implementing the U.N. measures.
"The government will thoroughly carry out UNSC Resolution 2270 to spearhead international efforts," he said during a joint press conference involving related ministries at the government complex in downtown Seoul. "We've come up with our own measures accordingly to pressure North Korea."
The government blacklisted 40 individuals and 30 entities in its efforts to cut off cash flows to North Korea for the development of weapons of mass destructions (WMDs).
Two of the 40 individuals are from Singapore and Taiwan while the rest are North Koreans.
Six of the 30 entities are in Egypt, Singapore, Myanmar, Thailand, the British Virgin Islands and Taiwan.
One of the targeted North Korean officials is Kim Yong-chul, who has masterminded intelligence operations against South Korea for years. He is also subject to sanctions adopted by the United States, the European Union, Japan and Australia but was excluded from 16 individuals and 12 entities blacklisted under UNSC Resolution 2270.
Theoretically, the blacklisted individuals will be banned from travelling to other countries while the targeted entities will be barred from engaging in overseas trade.
Under the ban on maritime shipping, vessels originating from the repressive state but caught flying the flags of other countries will be prohibited from entering South Korea.
Seoul said it will also closely monitor and prevent goods from North Korea being imported to South Korea via other nations while ensuring South Korean goods will not be exported to the military state regardless of the circumstances.
It also said that it will urge South Koreans to refraining from eating at North Korean restaurants when they travel abroad.
The restaurants are suspected of being operated by Office 39, a secretive branch of the repressive regime. It directly reports to North Korea leader Kim Jong-un concerning the use of money for the development of WMDs.