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North Korea Sanctions: Latest Updates

Pyongyang, North Korea - The Democratic People’s Republic of Korea (DPRK) has been under various sanctions imposed by the international community in response to its nuclear and missile testing programs.

HM Treasury Notice

As of March 6, 2018, HM Treasury has issued a notice imposing new sanctions on North Korea. The notice includes:

Restrictions on the importation of goods and services from North Korea
Prohibitions on the provision of financial services to individuals and entities connected to the country

EU Sanctions

The European Union has also imposed sanctions on North Korea in response to its nuclear and missile testing programs. As of March 6, 2018, EU member states are:

Prohibited from providing financial assistance or exporting goods and technology to individuals and entities connected to North Korea’s military and defense industries

Recent Developments

In recent weeks, there have been several developments related to the sanctions imposed on North Korea. These include:

On February 28, 2018, HM Treasury issued a notice updating its previous notice of January 23, 2018, to include new restrictions on the importation of goods from North Korea
On March 5, 2018, the EU updated its list of individuals and entities connected to North Korea’s military and defense industries, including several high-ranking officials in the country’s government and military

Current Status

As of March 6, 2018, the sanctions imposed on North Korea by HM Treasury and the European Union remain in place. The sanctions prohibit:

Importation of goods from North Korea
Provision of financial services to individuals and entities connected to the country
Export of goods and technology to those same individuals and entities

Conclusion

The sanctions imposed on North Korea are a result of the international community’s efforts to pressure the country into abandoning its nuclear and missile testing programs. While there have been some recent developments related to the sanctions, the current status remains unchanged.

We will continue to provide updates on any changes to the sanctions imposed on North Korea.