EU implements humanitarian exemptions to N Korea sanctions

The EU has implemented a UN exemption to its sanctions on North Korea, allowing for certain transactions with North Korean entities Foreign Trade Bank and Korea National Insurance Company. The exemptions allow transactions with FTB or KNIC if they are solely for the operation of diplomatic missions in North Korea or humanitarian activities that are undertaken by, or in coordination with, the UN.

See Council Regulation (EU) 2017/1501 amending Council Regulation 329/2007 and Council Decision (CFSP) 2017/1504 amending Council Decision (CFSP) 2016/849.

This entry was posted in Latest EU Measures, North Korea by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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