The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) today announced North Korea-related designations, continuing the implementation of existing United Nations (UN) and U.S. sanctions.
As noted in the OFAC release, this sanctions-related action applies against two entities and six vessels and targets persons involved in the ship-to-ship transfer of refined petroleum products with North Korea-flagged vessels. The entities, vessels, and individuals are named in the OFAC release.
Treasury’s OFAC also announced it is targeting efforts or attempts by certain Russian persons or entities to circumvent U.S. sanctions related to “significant malicious cyber-enabled activities.”
The OFAC release designates two entities and two Russian individuals, and U.S. persons are generally prohibited from engaging in transactions with them.
For more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact:
John L. McLoughlin
Luis (Lou) Abad
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