US advisory on North Korean “sanctions evasion tactics”

US Flag3.jpgThe US Government (State, Treasury, Homeland Security & others) has issued an advisory entitled Risks for Businesses with Supply Chain Links to North Korea, which notes the “sanctions evasion tactics” used by North Korea that could expose businesses – including manufacturers, buyers, and service providers – to sanctions compliance risks with US and/or UN sanctions authorities. It highlights penalties for sanctions violations and activities that could result in designation by OFAC (ie secondary sanctions).

The advisory also assists businesses in complying with the requirements under Title III, the Korean Interdiction and Modernization of Sanctions Act of the Countering America’s Adversaries Through Sanctions Act (CAATSA). See OFAC Notice here, and US Department of State press release here.

This entry was posted in North Korea, USA 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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