It is reported that in Brussels, that EU ambassadors have reached an initial agreement to impose more economic sanctions on North Korea. These build on current UN sanctions against the hermit state. “Today the PSC…Read More
EU North Korea Sanctions
EU has consolidated its sanctions regime against North Korea (see Council Regulation 2017/1509). The EU also supports the revamping of stronger restrictive measures against the hermit North Korean regime.
The EU has started to implement UN Security Council (UNSC) sanctions against North Korea (see UNSC Resolution 2371).
On 27 June 2017, the Latvian Financial and Capital Market Commission announced an enforcement action whereby it penalized three banks for North Korea sanctions.
UN slaps the North Korean hermit state again with further sanctions, including a travel ban and asset freeze on it’s spy-master….
On 6 April 2017, the EU Council adopted additional restrictive measures against North Korea (DPRK). The EU decided to expand the prohibition on investments to new sectors, conventional arms-related industry, metallurgy, metalworking, and aerospace. The Council also agreed to prohibit the provision of computer services and services linked to mining and manufacturing in the chemical, mining and refining industry. Further, the lists of designated parties were also expanded.