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Administration Imposes Economic Sanctions Against North Korean Regime
Tuesday, August 23, 2016

On 6 July 2016, the US Treasury Department’s Offce of Foreign Assets Control (OFAC) added Kim Jong Un and 10 high-ranking officials of the North Korean government, and five North Korean entities, to the agency’s List of Specially Designated Nationals and Blocked Persons. The action follows the recent release of the US State Department’s “Report on Serious Human Rights Abuses or Censorship in North Korea”, which describes human rights abuses by each designated party. As a result of the designations, all property of a designated party that is under US jurisdiction is frozen and US persons are generally prohibited from transactions involving those parties or their property or property interests. The list of designated North Korean parties is available on the OFAC website.

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