To all Members,
The UN, US and the EU have significantly expanded sanctions against North Korea in response to nuclear and ballistic weapons tests carried out by the country earlier this year. These restrictions impose tough new measures. Those which are likely to be of most interest to Members are set out in summary form below.
- A ban on leasing and chartering vessels and provision of crew services.
- An obligation to de-register vessels owned or operated or crewed by North Korea or North Korean nationals.
- A ban on owning, operating, insuring or providing any vessel classification certification or associated services to North Korean flagged vessels.
- A ban on allowing vessels to enter EU ports where the vessels are known to be owned or controlled by a designated person on entity, or vessel is North Korean flagged, or reasonable grounds to suspect a prohibited cargo on board.
- A prohibition on sale and supply of aviation fuel to North Korea.
- A ban on purchase or transportation from North Korea of gold, titanium ore, vanadium ore, rare earth mineral, coal, iron and iron ore.
- An expansion of the list of luxury goods which may not be supplied to North Korea.
- A trade ban on all imports and exports from North Korea of products destined for North Korea's armed forces.
- Potential searches on cargoes moving to and from North Korea.
- An expansion of the list of designated persons and entities.
For further details of the sanctions imposed, we refer Members to two comprehensive briefings published by Holman Fenwick Willan in April and May 2016. We are grateful to Holman Fenwick Willlan for their permission to reproduce the full text for these briefings below.
You can read the Holman Fenwick Willan articles on North Korea Sanctions by clicking on the links below:
North Korea Sanctions Update - April 2016
European Union Sanctions against North Korea update - May 2016
We also refer Members to the full text of the relevant UN, US and EU resolutions below:
UN Resolution 2270 (2016)
EU Regulation 2016/682
US Executive Order 13722