OFAC ADDS 1 INDIVIDUAL AND 2 ENTITIES TO NORTH KOREA SANCTIONS LIST

On 13th September, OFAC added Song Hwa JONG, a North Korean national; VOLASYS SILVER STAR of Vladivostok, Russia; .and YANBIAN SILVERSTAR NETWORK TECHNOLOGY CO. LTD of China (aka CHINA SILVER STAR INTERNET TECHNOLOGY COMPANY; SILVER STAR INTERNET TECHNOLOGY CORPORATION; UNSONG INTERNET TECHNOLOGY CORPORATION; YANBIAN SILVER STAR; and YANBIAN SILVERSTAR) to its North Korean sanctions.

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20180913.aspx

US TREASURY TARGETS NORTH KOREAN-RUN IT COMPANIES WITH SANCTIONS

US Treasury alleges that China Silver Star and Volasys Silver Star are run and staffed by North Korean executives and employees, with revenue going to the North Korean regime.  The companies and their executives are accused of violating sanctions banning the exportation of North Korean workers and operating information technology services in North Korea.

http://thehill.com/policy/finance/406521-treasury-targets-north-korean-run-it-companies-with-financial-sanctions?src=ilaw

https://home.treasury.gov/news/press-releases/sm481

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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