First judgment on EU North Korea sanctions

CJEU1The EU General Court has given judgment in the first case about the EU’s North Korea DPRK sanctions regime. Judgment here (Maya Lester QC appeared for the applicants).

The Korea National Insurance Company was subject to an EU asset freeze for (in summary) “generating substantial foreign exchange revenue which could be used to contribute” to the DPRK’s nuclear / ballistic programme. The Court found, in essence, that as a state-owned insurance company that generated a profit (even if it did not generate substantial foreign exchange revenue) the listing criterion was fulfilled. The Court also rejected claims brought by individuals who had held positions in the company, on the basis that their witness evidence explaining (inter alia) their retirement / absence of ongoing links with the company had no probative value because it was prepared for the purposes of the EU case.

This entry was posted in European Court Cases, 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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