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Web Alert: EU sanctions against North Korea (The Democratic People's Republic of Korea)
News & Insights 25 June 2013
Web Alert: EU sanctions against North Korea (The Democratic People’s Republic of Korea)
These sanctions have been imposed mainly in response to nuclear and ballistic missile tests, but also on human rights grounds.
Key provisions relevant to members include:
A. Assets freezes and restrictions on financial services
- Freezing of funds and economic resources of listed persons / entities. Blacklisted entities include various persons and entities in banking, the arms trade, atomic energy, space technology and other fields. As at 10 June 2013, there were 29 individuals and 34 entities listed. The UK list for these DPRK sanctions may be found here.
- There are also restrictions on financial services. Many EU banks are cautious about making payments to DPRK parties or otherwise involving the DPRK.
B. Other measures
- Import and export bans on arms and goods which could contribute to the DPRK's nuclear-related, ballistic missile-related or other weapons of mass destruction-related programmes. This covers dual-use goods, such as aluminium products, specified alloys of steel, nickel and titanium and carbon-carbon composite material, as well as nuclear materials and specified chemicals, electronics and software.
- Ban on trading in gold, silver, other precious metals, diamonds, luxury goods and DPRK denominated banknotes and coinage
- Ships transporting cargo to or from the DPRK must provide prior information on goods brought into or out of a member state. Such cargo is also to be inspected where member states have reasonable grounds to believe it contains restricted items. Prohibited goods are to be seized by member states.
- Ban on bunkering, ship supply or other servicing of any DPRK ship where there are reasonable grounds to suspect that it carries prohibited goods.
Please also note there are again prohibitions against knowingly and intentionally participating in activities the object or effect of which is to circumvent the aforementioned measures. However, the usual defence where someone did not know, and had no reasonable cause to suspect, that their actions would infringe prohibitions applies only to very limited measures.