The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two individuals and three entities for activities related to the exportation of petroleum to the Democratic People’s Republic of Korea (DPRK).
his action highlights the U.S. Government’s commitment to implement existing United Nations Security Council resolutions (UNSCRs), including holding the DPRK accountable for its use of illicit ship-to-ship (STS) transfers to circumvent UN sanctions that restrict the import of petroleum products and supports the development of its weapons programs and military.
The DPRK’s long-range ballistic missile launches, including over Japan, demonstrate a continued disregard for United Nations Security Council resolutions,
said Brian Nelson, Under Secretary for Terrorism and Financial Intelligence.
Today’s actions target two individuals, and Marshall Islands-registered company New Eastern Shipping, which were involved in the ownership or management of the Courageous, a vessel that has participated in several deliveries of refined petroleum to the DPRK.
The Courageous, known as the Sea Prima during much of its illicit activity, conducted UN-prohibited STS transfers with the DPRK vessels and at least one direct delivery at Nampo, DPRK.
According to OFAC, the Courageous engaged in deceptive shipping practices such as disabling its Automatic Identification System or AIS, conducting STS transfers at night and in the Korea Bay, and undertaking unnecessary detours to further obfuscate its true destination or origin.
Additionally, OFAC designated Singapore-registered Anfasar Trading and Singapore registered Swanseas Port Services for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, a person whose property and interests in property are blocked pursuant to E.O. 13810.
As a result of this action, all property and interests in property of the individuals and entities that are in the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC.
OFAC’s regulations generally prohibit all dealings by U.S. persons or within the United States that involve any property or interests in property of blocked or designated persons.
In addition, persons that engage in certain transactions with the individuals or entities designated today may themselves be exposed to designation. Furthermore, any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for any of the individuals or entities designated today could be subject to U.S. correspondent or payable-through account sanctions.