Namibia’s QINGDAO CONSTRUCTION (NAMIBIA) CC Slapped with OFAC Sanctions for Ties to North Korea
US Imposes Sanctions on Namibian Company for Links to North Korean Entity
The United States Office of Foreign Assets Control (OFAC) has added Namibian-based QINGDAO CONSTRUCTION (NAMIBIA) CC to its list of sanctioned entities due to its ownership or control by a company linked to North Korea. The entity was listed under the North Korea Sanctions Regulations, sections 510.201 and 510.210.
Background Information
According to OFAC, QINGDAO CONSTRUCTION (NAMIBIA) CC is a subsidiary of MANSUDAE OVERSEAS PROJECTS ARCHITECTURAL AND TECHNICAL SERVICES (PTY) LIMITED, which is part of the MANSUDAE OVERSEAS PROJECT GROUP OF COMPANIES. The group has been accused of being involved in various activities related to North Korea’s weapons program.
Sanctions Prohibitions
The sanctions prohibit any person owned or controlled by a U.S. financial institution from engaging in transactions with QINGDAO CONSTRUCTION (NAMIBIA) CC. Additionally, the company is subject to secondary sanctions risk under the North Korea Sanctions Regulations, section 510.214.
Company Information
QINGDAO CONSTRUCTION (NAMIBIA) CC is based at:
- ERF 338, Platinum Street, Prosperita, Windhoek, Namibia
- P.O. Box 26774, Windhoek, Namibia
Impact of Sanctions
The OFAC sanctions are a significant blow to the company, which will now face restrictions on its ability to conduct business with U.S. companies and individuals. The move is part of the ongoing effort by the international community to pressure North Korea to abandon its nuclear program and cease its human rights abuses.