How to Avoid Sanctions Risks
A recent advisory issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), U.S. Department of State and U.S. Coast Guard warns the entire shipping industry of the sanctions risks associated with North Korea’s deceptive shipping practices.
The OFAC maintains comprehensive sanctions against the Democratic People’s Republic of Korea (DPRK). This includes not only a list of designations against members of the ruling regime and its economic assets, but also a prohibition on any transactions involving the…
