US TREASURY DESIGNATES 2 SHIPPING COMPANIES FOR ATTEMPTED EVASION OF NORTH KOREA SANCTIONS

On 21st March, OFAC announced the designation of 2 shipping companies that have helped North Korea evade sanctions. Both companies are based in China.

Dalian Haibo International Freight Co. Ltd is designated for providing goods and services to or in support of the already-designated Paeksol Trading Corporation (which is said to be subordinate to the US/UN-listed North Korean Reconnaissance General Bureau or RGB).  OFAC also designated Liaoning Danxing International Forwarding Co. Ltd for operating in the transportation industry in North Korea, and says that  Liaoning Danxing routinely used deceptive practices that enabled EU-based North Korean procurement officials to operate and purchase goods for the DPRK regime.

In a related action, OFAC, along with the US Department of State and the US Coast Guard, is updating the North Korea shipping advisory and adding dozens of vessels that are believed to have engaged in ship-to-ship (STS) transfers with North Korean tankers or exported North Korean coal.

https://home.treasury.gov/news/press-releases/sm632

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20190321.aspx

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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