Further sanctions on North Korea from US

The US has announced additional sanctions against North Korea, effective from December 12th 2016, reports American Club in a Member’s advisory note. These sanctions expand the existing embargo, targeting North Korea’s financial, energy, labour exportation and transportation operations by the inclusion of additional entities

on the US Treasury Department’s Office of Foreign Assets Control (OFAC)’s SDN List.

The inclusion of North Korean entities on the OFAC SDN List means that US persons are prohibited from engaging in transactions and activities with such entities, and that the property of such entities (including but not limited to financial transfers) within the US jurisdiction is blocked.