Tag Archives: North Korea

South Korea and Japan Announce New Sanctions on North Korea

By Trade Practitioner on Posted in Export Controls & Sanctions
In response to its recent nuclear and ballistic missile tests, South Korea and Japan have announced that they are imposing new unilateral sanctions on North Korea. The announcements directly follow the UN Security Council’s decision to impose new sanctions on North Korea. Japan is set to impose asset freezes on more people and entities that … Continue Reading

UN Security Council Calls for Stricter Enforcement of Sanctions Against North Korea

By Trade Practitioner on Posted in Export Controls & Sanctions
The UN Security Council released a press statement on 6 September condemning the ballistic missile launches conducted by North Korea on 5 September, in direct violation of UN sanctions. The statement further added that members of the Security Council called upon all member states to redouble their efforts to implement fully the measures imposed on North Korea. Back in March … Continue Reading

EU Expands Its Sanctions Against North Korea

By Trade Practitioner on Posted in Export Controls & Sanctions
The EU sanctions against North Korea have been amended in order to incorporate recent changes to UN sanctions against North Korea and to tighten the restrictions currently in place on North Korean vessels. This update provides for the designation of additional items to which prohibitions on the transfer, procurement and provision of technical assistance apply. Furthermore, the EU has decided … Continue Reading

Trade Talk: Week in Review (6-11 September 2016)

By Trade Practitioner on Posted in East Asia & the Pacific, Iran, Trade Policy & Market Access
JASTA – Bill Sent to President.  The House voted by voice vote last Friday to advance the Senate-passed JASTA measure to President Obama’s desk for signature into law. Congress acted on a measure that many believe is long-overdue for the victims of the 9/11 attack just ahead of Sunday’s 15th anniversary of the terrorist attack.  … Continue Reading

Administration Imposes Economic Sanctions Against North Korean Regime

By Trade Practitioner on Posted in Americas, Export Controls & Sanctions, US
On 6 July 2016, the US Treasury Department’s Offce of Foreign Assets Control (OFAC) added Kim Jong Un and 10 high-ranking officials of the North Korean government, and five North Korean entities, to the agency’s List of Specially Designated Nationals and Blocked Persons. The action follows the recent release of the US State Department’s “Report on Serious Human Rights Abuses … Continue Reading

China Bans Export of more Dual-Use Goods to North Korea

By Trade Practitioner on Posted in China, Export Controls & Sanctions
China has banned the export of 40 items to North Korea that could be used to develop nuclear arms and other weapons of mass destruction. The list of banned products and materials, which adds to a much longer Chinese list of prohibited goods released in 2013, includes metal hydrides and high-strength aluminium alloys, as well as laser-welding and plasma-cutting … Continue Reading

Trade Talk Week in Review (4-8 July 2016)

By Trade Practitioner on Posted in East Asia & the Pacific, EU, Europe & Central Asia, Export Controls & Sanctions, Trade Policy & Market Access, US
North Korea – New U.S. Sanctions Announced.   On Wednesday, the Obama Administration announced sanctions designations targeting senior North Korean officials, including Kim Jong Un.  The U.S. Department of State issued a report identifying individuals and entities responsible or associated with serious human rights abuses or censorship in North Korea.  In tandem, the U.S. Department of … Continue Reading

Trade Talk – Week in Review (31 May – 3 June)

By Trade Practitioner on Posted in Anticorruption, East Asia & the Pacific, Export Controls & Sanctions, France, Germany, Iran, Middle East & North Africa, Russia, Trade Policy & Market Access
North Korea – Money Laundering Designation.   Last week, the U.S. Department of the Treasury designated North Korea as a jurisdiction of “primary money-laundering concern” under Section 311 of the USA Patriot Act on Wednesday.  This will allows Washington to further limit North Korea’s access to the U.S. financial system.  Under the new designation, non-U.S. banks … Continue Reading

Trade Talk – Week in Review (23-27 May 2016)

By Trade Practitioner on Posted in Trade Policy & Market Access
G-7 Leaders’ Declaration.   The G-7 Leaders’ Declaration issued on Friday from Ise-Shima, Japan, touched on topics such as the global economy, trade, maritime security, cyberspace, anti-corruption, infrastructure, global health challenges, climate change and female empowerment.  The Leaders advocated TPP member states ratify the agreement, while also addressing the global excess steel capacity issue, government subsidies … Continue Reading

EU Introduces New Sanctions Against North Korea Following Those That Were Announced by the UN Security Council Last Month

By Trade Practitioner on Posted in China, East Asia & the Pacific, EU, Export Controls & Sanctions
The restrictive measures include a ban on the import of coal, iron and iron ore from North Korea, a blanket restriction on opening new branches, subsidiaries or representative offices of North Korean banks, and an obligation for Member States to expel North Korean diplomats engaged in certain activities. Council Decision 2016/476 amends Decision 2013/183/CFSP. On a related note, China … Continue Reading

UK Export Control Organisation (ECO) Issues Two New Open General Export Licences (OGELs)

By Trade Practitioner on Posted in China, EU, Europe & Central Asia, Export Controls & Sanctions, Iran, Russia, United Kingdom
Exporters with these licences will now be able to export unpopulated printed circuit boards and wiring harnesses, connectors and fasteners and related components for military and dual-use goods. Exports to several countries, including Russia, Iran, North Korea and China, are not covered. However, both licences will still attract the standard OGEL obligations; exporters must register to use the licences, … Continue Reading

New Sanctions Against North Korea

By Trade Practitioner on Posted in East Asia & the Pacific, EU, Export Controls & Sanctions, US
South Korea, the EU and US imposed or strengthened sanctions against North Korea in March. South Korea’s sanctions include an asset freeze on, and a restriction on business dealings with, 38 individuals and 24 entities in North Korea alleged to be responsible for the development of weapons of mass destruction. Further sanctions were imposed against two individuals and six … Continue Reading

Trade Talk Week in Review (14-18 March 2016)

By Trade Practitioner on Posted in Americas, Countries, Cuba, Latin America, Trade Policy & Market Access, US
President Barack Obama issued a new Executive Order and restrictions related to North Korea, while the Administration eased some U.S. sanctions against Cuba last week.  The President and his family traveled to Cuba on Sunday and will stop in Argentina later in the week. The White House announced early last week that South Africa had … Continue Reading

US and Japan Strengthen Sanctions Against North Korea

By Trade Practitioner on Posted in East Asia & the Pacific, Export Controls & Sanctions, US
The US Congress passed legislation on 12 February 2016 (Pub. L. 114-122) that would enhance the current economic sanctions program against North Korea. The measure is intended to address recent aggressive tactics by North Korea, including nuclear and missile tests, cyber-attacks, human rights abuses and other activities. It authorizes direct or “primary” sanctions against persons … Continue Reading

Trade Talk – Week in Review (8-12 February 2016)

By Trade Practitioner on Posted in Customs, East Asia & the Pacific, Export Controls & Sanctions, Trade Policy & Market Access
North Korea Sanctions Bill Passes – Sent to President’s Desk.  By a vote of 408-2, the House passed new North Korea sanctions legislation (H.R. 757) on Friday following the Senate’s unanimous approval Wednesday, sending the measure to President Obama’s desk for signature into law.  Once enacted, the bill would compel the U.S. Department of the … Continue Reading

Trade Talk – Week in Review (4-8 January 2016)

By Trade Practitioner on Posted in Export Controls & Sanctions, Iran, Trade Policy & Market Access, US
Globe in a boxThe House of Representatives reconvened last Tuesday in Washington.  The Senate is in session today.  President Barack Obama will address a joint session of Congress tomorrow when he gives the annual State of the Union. Iran – Obama Administration Stays the Course.  Lawmakers continue to advocate for new sanctions to be imposed on Iran for … Continue Reading

Non-Member States Adopt EU Changes to Belarus and North Korea Sanctions

By Trade Practitioner on Posted in EFTA, EU, Europe & Central Asia, Export Controls & Sanctions, Ukraine
EU candidate countries the former Yugoslav Republic of Macedonia, Montenegro, Serbia and Albania and potential candidate Bosnia and Herzegovina have aligned their national sanctions policies with the latest amendments to the EU sanctions in place with respect to Belarus and the Democratic People’s Republic of Korea. These countries have been joined by the EFTA countries … Continue Reading
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