U.S. removes North Korea sanctions on Russian oil supplier, citing severed ties
Delisting is U.S. Treasury’s first for secondary North Korea sanctions
The U.S. Treasury on Monday delisted a Russian petroleum supplier that had been sanctioned in 2017 for providing oil to North Korea, saying the company has proved it severed ties with the DPRK-linked operations.
The entities removed from Treasury’s Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) List were the Independent Petroleum Company (IPC) and its subsidiary AO NNK-Primornefteproduct (NNK-P).
It is the first time the U.S. has removed secondary sanctions imposed in relation to North Korea.
IPC was first designated in June 2017, with Treasury saying at the time
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