What will be the impact of OFAC’s latest designations?
While short-term impact of designations small, the move sets the groundwork for further action
OFAC’s latest round of sanctions on the DPRK are interesting for having included Kim Jong Un’s sister, and for revealing the process by which we can anticipate further sanctions down the line. But it’s the designation of the Ministry of Labor that has the most significant ramifications for the DPRK and its partners.
The OFAC designations and penalties for violation
On 11th January the U.S. Treasury’s Office of Foreign Assets Control (OFAC) designated seven North Korean individuals and two entities for their part in human rights abuses or censorship in
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