On 08 January 2018, the EU decided to align it’s North Korean sanctions regimes with UN Security Council measures by adding 16 persons and one entity, the Ministry of the People’s Armed Forces (MPAF), to the…
North Korean Ballistic Missile Program
On 29 June 2017, the U.S. Department of the Treasury announced that the Bank of Dandong, a Chinese bank, is a foreign bank of primary money laundering concern under Section 311 USA Patriot Act). Furthermore, the Treasury’s Office of Foreign Assets Control blacklisted two Chinese individuals and one Chinese company in response to North Korea’s ongoing WMD development and continued violations of UN Security Council resolutions.
On 04 May 2017, the U.S. House of Representatives approved the Korean Interdiction and Modernization of Sanctions Act (H.R. 1644). This latest salvo of U.S. sanctions against North Korea aims to thwart Pyongyang’s advancing nuclear and ballistic missile programs. The sanctions target North Korea’s shipping industry and use of slave labor. The approved bill has now moved to the U.S. Senate, who must now approve the restrictive measures.