June 2, 2016: HMT announced EU expansion of DPRK sanctions

On May 28th, the EU adopted Council Regulation (EU) No 2016/841, which makes the following changes to sanctions on North Korea:

 

With effect from 29 May 2016 it is prohibited to:

  1. i  Transfer funds to and from North Korea unless the funds are for a specific purpose as listed in the Regulation;

  2. ii  Transfer any funds over EUR 15,000 without specific authorisation from HM Treasury and;

  3. iii  Provide financial support for trade with North Korea; and

  4. iv  Accept or approve investment in any commercial activity as detailed in the

    Regulation. 

Links:

HMT Notice

Council Regulation (EU) No 2016/841

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