Sanctions related to the Democratic People’s Republic of Korea (North Korea)

Sanctions related to the Democratic People’s Republic of Korea (North Korea)

Overview

The President of the United States of America has signed an Executive Order ‘Imposing additional sanctions with respect to the Democratic People’s Republic of Korea (North Korea)

In addition to the existing sanctions related to the Democratic People's Republic of Korea, members should keep in mind the recent “Presidential Executive Order on Imposing Additional Sanctions with Respect to North Korea”.

Of particular importance to shipping is Sec. 2.(b) stating that:

No vessel in which a foreign person has an interest that has called at a port in North Korea within the previous 180 days, and no vessel in which a foreign person has an interest that has engaged in a ship to ship transfer with such a vessel within the previous 180 days, may call at a port in the United States. 

We recommend that any owner contemplating to call a port in North Korea or otherwise engage in business involving North Korean interests study the information provided in the following articles:

 

Peter Lundahl Rasmussen
in Copenhagen, DK

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