New UN sanctions on North Korea

The UN Security Council has unanimously passed a resolution imposing new sanctions on North Korea. These far-reaching sanctions, which were drafted by agreement between the USA and China:

  1. require inspection of all cargo leaving or entering North Korea by sea or air;
  2. ban all sales or transfers of small arms and light weapons to North Korea;
  3. ban the export from North Korea of coal, iron, and iron ore being used to fund North Korea’s nuclear or ballistic missile programmes;
  4. ban the export from North Korea of gold, titanium ore, vanadium ore, and rare earth minerals;
  5. ban the export to North Korea of aviation fuel, including kerosene-type rocket fuel;
  6. prohibit the export to and from North Korea of several new luxury items, including snowmobiles, recreational water vehicles, luxury watches, and lead crystal;
  7. require member states to expel North Korean diplomats who engage in “illicit activities”;
  8. ban North Korea from chartering vessels or aircraft, and call on countries to de-register any vessel owned, operated, or crewed by North Korea;
  9. prohibit the opening of new branches, subsidiaries, or representative offices of North Korean banks in member states;
  10. prohibit financial institutions from establishing new joint ventures, or maintaining or establishing correspondent relationships with North Korean banks;
  11. require that member states close North Korean banks in their jurisdictions and terminate banking relationships with them within 90 days;
  12. require member states to impose asset freezes on entities linked to North Korea’s nuclear and missile programmes (previously they were only encouraged to do this); and
  13. impose asset freezes and travel bans on 16 people and 12 entities, including the agency responsible for North Korea’s rocket launch in February. 31 ships owned by Ocean Maritime Management Company will also be designated.

The sanctions are in Resolution 2270, which states that they are not intended to have “adverse humanitarian consequences” for civilians.

This entry was posted in North Korea, United Nations by Michael O'Kane. Bookmark the permalink.

About Michael O'Kane

Michael O’Kane is a partner and Head of the Business Crime team at leading UK firm Peters & Peters. Described as ‘first-rate’ (Legal 500 2012), he “draws glowing praise from commentators” (Chambers 2013) for handling the international aspects of business crime, including sanctions, extradition and mutual legal assistance. Called to the Bar in 1992 and prior to joining Peters & Peters he was a senior specialist prosecutor at the Crown Prosecution Service Headquarters(CPS). At CPS HQ he was a key member of a small specialist unit responsible for the prosecution of serious and high profile fraud, terrorist and special interest criminal matters including the Stansted Airport Afghan hijacking and the prosecution of Paul Burrell (Princess Diana’s butler). Michael joined Peters & Peters in 2002. He became a partner in May 2004, and Head of the Business Crime team in May 2009. Since joining Peters & Peters, Michael has dealt with a wide range of business crime matters. He has particular expertise in international sanctions, criminal cartels, extradition, corruption, mutual legal assistance, and FSA investigations. Described as“ an influential practitioner in fraud and regulatory work, so much so that he is top of the referral lists of many City firms for independent advice for directors” (The Lawyer’s Hot 100 2009), he was recognised as one of the UK’s most innovative lawyers in the 2011 FT Innovative Lawyer Awards and included in the list of the UK's leading lawyers in 'The International Who's Who of Asset Recovery 2012. In 2012 he was the winner of the Global Competition Review Article of the Year. Michael regularly appears on television and radio to discuss his specialist areas and he is the author of the leading textbook on the UK Criminal Cartel Offence “The Law of Criminal Cartels-Practice and Procedure” (Oxford University Press 2009). Recent/Current Sanctions Work • Representing 109 individuals and 12 companies subject to designation by the European Council under targeted measures imposed against Zimbabwe. This is the largest and most complex collective challenge to a sanctions listing ever brought before the European Court. • Acting for a former Egyptian Minister and his UK resident wife, challenging their designation by the European Council of Ministers under targeted measures brought against former members of the Egyptian Government. • Advising a company accused in a UN investigation report to have breached UN sanctions imposed in relation to Somalia. • Advising a UK company in relation to ongoing commercial relationships with an Iranian company listed under both EU and UN sanctions. • Advising an individual in relation to a UK investigation for alleging breaching nuclear export controls.

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