EU implements UN sanctions on N Korea

north-korea-162379_640The EU has implemented the new sanctions on North Korea that were introduced by the UN Security Council last month (see previous blog for full list of measures).  The new sanctions include a ban on Member States importing North Korean coal, iron, and iron ore, a prohibition on opening new branches, subsidiaries, or representative offices of North Korean banks in Member States, and a requirement that Member States expel North Korean diplomats who are engaging in certain illicit activities.  See Decision 2016/476 amending Decision 2013/183/CFSP.

In addition, the EU has listed Korea National Insurance Corporation, de-listed KNIC GmbH, and changed the reasons for listing various individuals said to be associated with KNIC. It has added derogations for KNIC relating to payments to KNIC by EU persons necessary for obtaining insurance in the DPRK, receipt of payments arising out of such services in respect of damages caused within the EU, and payments due under a contract prior to KNIC’s listing.  See Regulation 2016/465 amending Regulation 329/2007 and Decision 2016/475 amending Decision 2013/183/CFSP.

This entry was posted in Latest EU Measures, North Korea 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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