The Treasury Department’s Office of Foreign Assets Control has designated 16 companies and individuals in response to North Korea’s ongoing development of weapons of mass destruction, violations of United Nations Security Council resolutions, and attempted evasion of U.S. sanctions. OFAC states that these companies and individuals (1) assist already-designated persons who support North Korea’s nuclear and ballistic missile programs, (2) deal in the North Korean energy trade, (3) facilitate North Korea’s exportation of workers, and (4) enable sanctioned North Korean entities to access the U.S. and international financial systems.
Any property or interests in property of the newly-designated entities that are in the possession or control of U.S. persons or within the U.S. is blocked and U.S. persons are generally prohibited from dealing with these entities.
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