The West of England P&I Club says that the UN Security Council recently agreed to adopt enhanced measures against North Korea in light of its continuing weapons development programmes. These measures represent a comprehensive set of sanctions which have been given effect by both the EU and the US, with the US going further by implementing what would appear to amount to a trade embargo between itself and North Korea.
The Club notes the following important aspects of these sanctions which may be of particular interest to the maritime community:
- Ban on the purchase or transportation from North Korea of gold, titanium ore, vanadium ore, rare earth minerals, coal, iron and iron ore
- Ban on the sale and supply of aviation and rocket fuels
- Expansion of the list of banned luxury goods which cannot be supplied to North Korea Ban on all leasing and chartering of vessels and the provision of crew services
- Ban on owning and operating of or providing classification or similar services to North Korean-flagged vessels
- Expanded arms embargo
- Potential for vessels proceeding to or from North Korea to be searched
- Expansion of persons and entities on SDNs lists, including banks and shipping companies
Source: The West of England P&I Club
