OFAC FURTHER NORTH KOREAN SANCTIONS ADDS CHINESE, RUSSIAN AND SINGAPORE ENTITIES AND A RUSSIAN INDIVIDUAL

On 15th August, OFAC designated VASILI ALEKSANDROVICH KOLCHANOV, Director General of PROFINET PTE LTD, a Russian company which is also designated.  It also designated a Chinese company, DALIAN SUN MOON STAR INTERNATIONAL LOGISTICS TRADING CO LTD, and a Singapore one, SINSMS PTE LTD (aka SUN MOON STAR (SINGAPORE) LTD).  All of these were designated for involvement with trade with North Korea that is prohibited by sanctions.  The US Treasury advises that it –

  • designated China-based Dalian Sun Moon Star International Logistics Trading Co Ltd and its Singapore-based affiliate, SINSMS Pte Ltd as these companies worked together to facilitate illicit shipments to North Korea using falsified shipping documents, including exports of alcohol, tobacco, and cigarette-related product; and
  • designated Russia-based Profinet Pte Ltd (Profinet) and its Director General, as Profinet, a Russian port service agency that provides loading, bunkering, supplying, and departure arrangements for vessels calling at several Russian ports, has provided port services on at least 6 separate occasions to DPRK-flagged vessels, including sanctioned vessels which have carried refined oil products.  Profinet continued to offer its bunkering services to DPRK-flagged vessels even after its employees knew of oil-related sanctions on North Korea.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20180815.aspx

https://home.treasury.gov/news/press-releases/sm458

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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