April 14, 2024

Treasury imposes new North Korea sanctions targeting maritime sector

Designations aimed at entities, individuals and vessels involved in prohibited trade

The U.S. Department of the Treasury imposed new North Korea related designations targeting one individual, 27 entities, and 28 ships, the Office of Foreign Assets Control (OFAC) announced on Friday.

The designations focus heavily on the maritime sector and cover 16 North Korean entities, five from Hong Kong, two from Taiwan, two from China as well as one from Singapore, and Panama. Of the 28 vessels, 16 are North Korean with the remaining vessels originating from overseas.

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