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North Korea

UN Sanctions 

By adopting resolution 1718, UN Security Council put in place a restrictive sanctions regime against North Korea and its program to make weapons of mass destruction. This regime is consisted of: 

  • Travel bans 

  • Arm embargo

  • Financial sanctions

  • Trade Sanctions 

EU Sanctions 

The EU sanctions regime against North Korea is based on "COUNCIL DECISION (CFSP) 2016/849 of 27 May 2016 concerning restrictive measures against the Democratic People's Republic of Korea and repealing Decision 2013/183/CFSP."

This regime is a regime-based one and could be considered as the most restrictive regime of EU with the following restrictive measures: 

  • Travel bans

  • Financial sanctions 

  • Trade sanctions 

  • Arm embargo

U.S. Sanctions 

Sanctions against North Korea goes back to 1950, when the United State President proclaimed the existence of  a national emergency which aimed at addressing the situation in Korea among other things. This national emergency which was based on Trading With Enemies Act was extended till 2008, at which point the President of the United States terminated it and simultaneously declared a national security based on IEEPA through E.O 13466

Later in in 2010, the United States President via E.O. 13551, expanded the national emergency declared in E.O. 13466, and broadened the designation criteria under this program as well as blocking certain assets. A year later, by issuing E.O. 13570, the United States President prohibited the importation of any goods, services, or technology from North Korea to the United States. It followed by E.O. 13678 through which the United States President added blocking sanctions on the Government of North Korea, its officials, agencies and officials of Workers' Party of Korea.

Following the passage adoption of UNSC Resolution 2270, the President of the United States issued E.O. 13722 and expanded the scope of sanctions drastically by broadening the designation criteria under this program, by prohibition of exportation from the United States to North Korea, by prohibition of new investments, by putting travel restrictions, etc. Finally, in September of 2017, the President of the United States issued E.O. 13810 and once again expanded the scope of sanctions in this program by adding secondary sanctions targeted at foreign financial institutions, putting restrictions on vessels or airplane which called a port or landed in North Korea, etc. 

In addition to the above mentioned executive authorities, there are several pieces of legislation which impose sanctions or grants the power to sanctions to the executive branch. To name a few North Korean Sanctions and Policy Enhancement Act of 2016, and NDAA 2020 impose sanctions on North Korea. The latter required the executive branch to prohibit an entity owned or controlled by a United States financial institution and established or maintained outside the United States from certain transactions related to North Korea. This prohibition is similar to that of Cuba and Iran program which prohibits the non-U.S. subsidiaries or U.S. companies to engage in certain transactions, yet with a more limited scope. 

It is notable that as required by North Korean Sanctions and Policy Enhancement Act of 2016North Korea was determined as ‘‘primary money laundering concern’’ in 2016 which among other restrictions, prohibit U.S. financial institutions from opening or maintaining a correspondent account for, or on behalf of, North Korean banking institutions. 

North Korea Sanctions Regulations are codified under 31 CFR Part 510. Those targeted by this program, depending on the authority under which they are designated have different tags. For E.O. 13551: [DPRK]; for E.O. 13687: [DPRK2]; for E.O. 13722: [DPRK3]; and for E.O. 13810: [DPRK4]. The names of persons designated or identified pursuant to NKSPEA, with the identifier “[DPRK-NKSPEA]". 

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