WASHINGTON-- U.S. Secretary of State Antony Blinken on Wednesday welcomed South Korea's decision to hold Russia accountable for the invasion of Ukraine.

The top U.S. diplomat said Seoul's actions will illustrate the country's commitment to preserving the rules-based international order that will help defend the freedom and sovereignty of Ukraine.

"The United States and the Republic of Korea (ROK) are standing shoulder-to-shoulder in support of Ukraine by responding to Russia's premeditated, unprovoked, and unjustified attack," Blinken said in a released statement, referring to South Korea by its official name.

"The ROK's announcement of economic actions against Russia will help defend the freedom, territorial integrity, and sovereignty of Ukraine and illustrates the ROK's commitment to preserving the rules-based international order," he added.

South Korea earlier said it will end financial transactions with seven major Russian banks and their affiliates as part of global efforts to impose costs on Russia for its attack on Ukraine.

Seoul has also joined the multinational move to remove Russia from the SWIFT international settlement network.

"The ROK's support for denying selected Russian banks access to the global SWIFT financial messaging system, along with its commitment to block financial transactions with major Russian banks and impose other financial and export controls, will support international efforts to isolate Russia from the international financial system and technology trade," said Blinken.

"At the same time, the ROK's commitment to release additional petroleum from its strategic reserves will help our shared efforts to stabilize the global energy market."

The U.S. earlier said it and its allies together will release 60 million barrels of oil from their strategic petroleum reserves to help ease energy price hikes.

Blinken also welcomed South Korea's support for Ukraine, noting the country has pledged an additional US$10 million in emergency humanitarian aid for the people of Ukraine.

"Our joint actions demonstrate the unity and resolve of the United States, the ROK, and our allies and partners to stop Russia's aggression in Ukraine," he said.

Amb. Cho Hyun, chief of the South Korean mission to the United Nations, on Tuesday said Seoul will increase its support for Ukraine while urging Russia to immediately withdraw its troops from Ukraine.

Source: Yonhap News Agency