Additional North Korea Sanctions Announced
The Treasury Department announced Nov. 21 a set of additional sanctions aimed at disrupting North Korea’s illicit funding of its nuclear and ballistic missile programs. Specifically, Treasury has sanctioned one individual, 13 entities (including four Chinese companies), and 20 vessels in an effort to target third-country persons with longstanding commercial ties to North Korea as well as the transportation networks that facilitate North Korea’s revenue generation and operations.
Eleven designations were issued pursuant to Executive Order 13810, which targets, among others, persons that operate in the North Korean transportation industry, as well as persons who have engaged in a significant importation from or exportation to North Korea. The remaining entities were sanctioned pursuant to Executive Order 13722, which targets, among others, persons involved in the exportation of workers from North Korea, including exportation to generate revenue for the North Korean government or the Workers' Party of Korea, and blocks the property and interests in property of the North Korean government and the Workers' Party of Korea.