Frequently Asked Questions

E.O. 13810 provides the Secretary of the Treasury, in consultation with the Secretary of State, additional tools to disrupt North Korea’s ability to fund its weapons of mass destruction (WMD) and ballistic missile programs. Specifically, E.O. 13810: (1) establishes several new designation criteria… Read more

Section 3 of E.O. 13810 , as implemented in 31 C.F.R. § 510.201(d), authorizes the Secretary of the Treasury to determine that a foreign bank account is owned or controlled by a North Korean person or has been used to transfer funds in which any North Korean person has an interest, and to require… Read more

Foreign financial institutions have for some time been prohibited from engaging in most North Korea-related transactions that transit the U.S. financial system. In addition, as described in § 510.201(a)(3)(vi) of the NKSR, sanctionable activities of a foreign financial institution include, on or… Read more

Pursuant to E.O. 13810 and the North Korea Sanctions Regulations, a finding by the Treasury Department that a foreign financial institution knowingly engages in one or more of the sanctionable activities is necessary before the Treasury Department can prohibit or impose strict conditions on the… Read more

If, pursuant to the NKSR, Treasury decides to impose strict conditions on maintaining U.S. correspondent accounts or U.S. payable-through accounts for an FFI, or decides to prohibit the opening or maintaining of U.S. correspondent accounts or U.S. payable-through accounts for an FFI, Treasury will… Read more

The general license at § 510.522 of the North Korea Sanctions Regulations, 31 CFR part 510 (NKSR), authorizes news reporting organizations that are U.S. persons, and their U.S. person employees to engage in certain transactions in North Korea, provided that such transactions are ordinarily incident… Read more

Yes, provided that the provision of global travel insurance and travel assistance relate to travel that is exempt or authorized. The authority granted to the President by the International Emergency Economic Powers Act (IEEPA) does not include the authority to regulate or prohibit, directly or… Read more

As with all financial sanctions programs Treasury administers, these measures will be implemented in accordance with domestic law and our international obligations. …

General License 12​ authorizes, until 12:01 a.m. eastern standard time, February 27, 2019, all transactions and activities that are ordinarily incident and necessary to the wind down of operations, contracts, or other agreements that were in effect prior to January 28, 2019. This authorization… Read more

The regulatory amendment: (i) implements the correspondent or payable-through account sanctions set forth in section 2 of E.O. 13871 by incorporating those provisions in the Iranian Financial Sanctions Regulations, 31 C.F.R. part 561 (IFSR); (ii) renames the Iranian Human Rights Regulations, 31 C.F… Read more