E.O. 13722 blocks the Government of North Korea and the Workers’ Party of Korea; prohibits the exportation and reexportation of goods, services (including financial services), and technology to North Korea; and prohibits new investment in North Korea. E.O. 13722 also adds new designation criteria,… Read more
Yes. E.O. 13722 implements certain U.S. obligations under UNSCR 2270 and certain provisions of the North Korea Sanctions and Policy Enhancement Act of 2016. U.S. sanctions against North Korea are generally broader than UN sanctions. … 457 … Does Executive Order (E.O.) 13722 take into account United… Read more
Yes. All property and interests in property of the Government of North Korea and the Workers’ Party of Korea are blocked. U.S. persons are generally prohibited from engaging in transactions with them without authorization from OFAC and must block property or interests in property that are in, or… Read more
No. Unless authorized pursuant to a general or specific license from OFAC and/or BIS, Executive Order (E.O.) 13722 prohibits new investment in North Korea by a U.S. person and the exportation or reexportation, from the United States, or by a U.S. person, of any goods, services, or technology to… Read more
Yes. Several general licenses are incorporated into Subpart E of the North Korea Sanctions Regulations. See OFAC’s webpage on North Korea for any additional general licenses. … 461 … Has OFAC issued general licenses for the North Korea program? … 1556 … Yes. Several general licenses are… Read more
Yes. Section 510.511 of the North Korea Sanctions Regulations authorizes U.S. depository institutions (including banks), U.S.-registered brokers or dealers in securities, and U.S.-registered money transmitters to process non-commercial, personal remittances to or from North Korea, or for or on… Read more
While OFAC sanctions do not prohibit U.S. persons from traveling to or from North Korea, as of September 1, 2017, U.S. passports are invalid for travel into, in, or through North Korea. However, in limited circumstances, applicants may be eligible for a Special Validation Passport from the State… Read more
Section 510.510 of the North Korea Sanctions Regulations authorizes the provision of goods or services in the United States to employees of the official mission of the Government of North Korea to the United Nations or employees of the United Nations, their families, or other persons forming part… Read more
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