Shipping Cos. Must Review New North Korea Sanctions Risks

Law360 (March 2, 2018, 12:59 PM EST) -- On Feb. 23, 2018, the U.S. Treasury Department’s Office of Foreign Assets Control announced what it described as the "largest North Korea-related sanctions tranche to date, aimed at disrupting North Korean shipping and trading companies and vessels to further isolate the regime and advance the U.S. maximum pressure campaign." 

OFAC added a total of 56 new entries to the US Specially Designated Nationals List, comprising one individual, 27 entities and 28 vessels, located, registered or flagged in North Korea, China, Singapore, Taiwan, Hong Kong, the Marshall Islands, Tanzania, Panama and the Comoros. 

In a parallel action, OFAC, the U.S. State Department...

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