North Korea - Sanctions Information
News Alerts and Information on Sanctions Legislation for North Korea
- UN, U.S. and EU Sanctions: This circular informs Members of the significant risk of evading the comprehensive international sanctions regime against the Democratic People's Republic of Korea (DPRK) which the United Nations Security Council introduced in 2017. Click here for the circular.
UN and US: On September 21, 2017 President Trump issued an Executive Order imposing new sanctions against North Korea, following additional UN Security Council sanctions passed on August 5 and September 11. Click here to access the article from US lawyers Freehill, Hogan & Mahar LLP with their view of the impact of these measures on international shipping.
UN, EU and UK Regulations: click here to access the HM Treasury web page detailing the sanctions in place against North Korea. This includes UN, EU and UK measures in place in respect of North Korea’s shipping sector, an expanded arms embargo, additional asset freeze designations and prohibitions relating to the insurance and financial sectors. Note that EU sanctions have been extended as of October 2017 affecting textiles, condensates, natural gas liquids and all refined petroleum products.
- US Legislation: OFAC's Overview of the US Sanctions with respect to North Korea (updated to November 2016 but in the process of being updated), together with links to Frequently Asked Questions, Guidance, Licencing information, Executive Orders and Statutes, can be accessed from the US Department of the Treasury web page by clicking here.