Tag: north korea

United States Publishes a Global Maritime Advisory to Counter Sanctions Evasion by Iran, North Korea, and Syria

The U.S. Department of State, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the U.S. Coast Guard issued a global advisory to alert the maritime industry, and those active in the energy and metals sectors to deceptive shipping practices used to evade sanctions, with a focus on Iran, North Korea, and Syria.

3/21/2019: New global shipping advisory regarding sanctions risks related to North Korea’s shipping practices

The U.S. Department of the Treasury’s Office of Foreign Assets Control, with the U.S. Department of State and the U.S. Coast Guard, issued an advisory to alert persons globally to deceptive shipping practices used by North Korea to evade sanctions. These practices may create significant sanctions risk for parties involved in the shipping industry, including insurers, flag registries, shipping companies, and financial institutions. Parties subject to U.S. and/or United Nations sanctions should be aware of these practices in order to implement appropriate controls to ensure compliance with their legal requirements.

2/23/2018: U.S. Dept. of Treasury’s Office of Foreign Assets Control (OFAC) announces new global shipping advisory regarding sanctions risks related to North Korea’s shipping practices

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), with the U.S. Department of State and the U.S. Coast Guard, issued an advisory to alert persons globally to deceptive shipping practices used by North Korea to evade sanctions.

9/28/2017: Information on vessels affected by U.S. sanctions on North Korea

This post highlights for maritime industry certain sections of Executive Order 13810, “Imposing Additional Sanctions With Respect to North Korea,” which promulgates a broad range of economic sanctions on North Korea. EO 13810 was issued September 20.

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