Treasury Sanctions North Korean Officials and Companies from Transportation, Mining, Energy, and Financial Services Industries

International Department of Treasury Sanctions OFAC Miscellany

On December 2, OFAC announced its decision to designate 16 entities and seven individuals in response to North Korea’s ongoing nuclear weapons development and violations of U.N. security council resolutions. The designations include a number of North Korean banks and other entities in the financial services sector of the North Korean economy. As a result of today’s action, any property or interests in property of the designated persons in the possession or control of U.S. persons or within the United States must be blocked. Additionally, U.S. persons are generally prohibited from engaging in transactions involving the designated persons and listed aircraft. The additions to the Specially Designated Nationals List were made pursuant to Executive Orders 13382, 13687, and 13722, which target proliferators of weapons of mass destruction, the Government of North Korea, and a number of North Korean trade and industry sectors, including transportation, coal and energy, and financial services.