On January 24, 2018, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned an additional nine entities, 16 individuals, and six vessels related to North Korea's violations of UN Security Council Resolutions (UNSCRs).
The actions target actors located in North Korea, China, Russia, and Georgia.
"Treasury continues to systematically target individuals and entities financing the Kim regime and its weapons programs, including officials complicit in North Korean sanctions evasion schemes," - Secretary of the Treasury Steven T. Mnuchin (1)
Summary of OFAC Actions Taken
- Designated 10 representatives of the Korea Ryonbong General Corporation (Ryonbong) and one Workers' Party of Korea official - Pursuant to Executive Order (EO) 13687
- Designated 5 additional North Koreans with links to North Korean financial networks - Pursuant to EO 13810 or 13687
- Designated Beijing Chengxing Trading Co. Ltd., Dandong Jinxiang Trade Co., Ltd., and Hana Electronics JVC - Pursuant to EO 13810
- Designated five North Korean shipping companies (Gooryong Shipping Co Ltd, Hwasong Shipping Co Ltd, Korea Kumunsan Shipping Co, Korea Marine & Industrial Trdg, and CK International Ltd) and blocked six vessels (Goo Ryong, Hwa Song, Kum Un San, Un Ryul, Ever Glory, and UL JI Bong 6) as property of these five companies - pursuant to EO 13810
- Sanctioned the North Korean Ministry of Crude Oil Industry
- (1) U.S. Department of the Treasury Press Release - "Treasury Sanctions North Korean Overseas Representatives, Shipping Companies, and Chinese Entities Supporting the Kim Regime" - 1/24/2018
- Executive Order 13687 - 1/6/2015
- Executive Order 13810 - 9/21/2017
- OFAC - Office of Foreign Assets Control
- OFAC Resource Center - North Korea Designations - 1/24/2018
- US Department of the Treasury