US ADDS 16 INDIVIDUALS, 6 SHIPS AND 9 COMPANIES TO NORTH KOREAN SANCTIONS LISTS

On 24th January WISN.com and the Washington Post reported that OFAC had added 16 individuals, 6 vessels and 9 companies, including North Korea’s Ministry of Crude Oil Industry, to its North Korean sanctions lists.  The sanctions are said to be due to North Korea’s “ongoing development of weapons of mass destruction” and “continued violations” of UN Security Council Resolutions, US Treasury officials said in a statement.  The Post points out that several of the 16 individuals sanctioned work in China near the North Korean border at the Korea Ryonbong General Corporation, which the Treasury Department already has sanctioned. According to the Treasury Department, Ryonbong supports North Korea’s military, helping it acquire chemicals, drilling equipment, hoses, metal and machines.   Some work for Ryonbong in Russia or Georgia, including 1 said to arrange jobs overseas for North Korean laborers whose salaries largely go to the North Korean government.  The sanctioned companies are from China and North Korea.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20180124.aspx?src=ilaw

https://www.washingtonpost.com/world/national-security/us-sanctions-north-korean-ships-suspected-of-smuggling-goods/2018/01/24/065cb8a2-011b-11e8-bb03-722769454f82_story.html?src=ilaw&utm_term=.0c43aeb2b29b

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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