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Stronger EU sanctions on North Korea

Monday, the EU made the following changes to its sanctions on North Korea:

  • Adopted the additional sanctions in UN Resolution 2087. This includes an increase in the number of listed persons (26) and entities (33) subject to travel bans and asset freezes.
  • Banned the export and import of components key to ballistic missile technology. Noted specifically were specific types of aluminum used for missile delivery systems. Details will be forthcoming in the Implementing Regulations.
  • Prohibited trade in new DPRK bonds, gold, precious metals and diamonds
  • Stopped delivery of new DPRK banknotes and coinage to its central bank
  • Prohibited new branches of North Korean banks in the EU, or offices and subsidiaries of European banks in North Korea
  • Prohibited joint ventures between European and North Korean financial institutions
  • Made changes so that others in involved in trade of conventional, nuclear or ballistic weapons could be sanctioned in the future

Links:

EU Press Release

Categories: EU Updates North Korea (DPRK) Sanctions

eric9to5

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