The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today announced a $538,000 settlement with Mondo TV, S.p.a. ("Mondo"). Mondo, an Italy-based animation company, has agreed to settle its potential civil liability for 18 apparent violations of the North Korea Sanctions Regulations. Between May 2019 and November 2021, Mondo caused U.S. financial institutions to process approximately $537,939 in payments for animation work Mondo outsourced to a Government of North Korea-owned animation studio. This settlement amount reflects OFAC's determination that Mondo's conduct was non-egregious and not voluntarily disclosed. For more information, please visit the following web notice.
Additionally, OFAC is issuing Russia-related General License 55B, "Authorizing Certain Services Related to Sakhalin-2."