May 29, 2022

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U.S. Treasury expands unilateral sanctions against North Korea

New regulations target officials, Air Koryo, and North Korean banks, among others

The U.S. has unveiled new targeted sanctions against North Korean financial, energy, labor exportation and transportation operations, the Department of the Treasury announced on Friday.

The treasury’s Office of Foreign Assets Control (OFAC) latest blacklist includes seven North Korean officials, 16 entities and 16 aircraft and comes in response to the North’s fifth nuclear test in September this year.