DPRK – Enforcement of UN, US and EU Sanctions (5.581)

This circular updates London P&I's earlier guidance on sanctions enforcement relating to the Democratic People’s Republic of Korea (DPRK). It explains the findings of the 2019/2020 UN Panel of Experts report, highlights the continued use of illicit ship-to-ship transfers and other evasive trading methods, and reminds members to apply the highest level of due diligence when considering any trade with a DPRK nexus.

London P&I also sets out the potential consequences of sanctions breaches, including designation, asset freezing, scrutiny by enforcement agencies and withdrawal of cover.