UAE tobacco firm admits to violating U.S. sanctions on North Korea



News UAE tobacco firm admits to violating U.S. sanctions on North Korea U.S. Treasury accuses Essentra FZE of devising "criminal scheme" to fund cigarette tip exports to DPRK Min Chao Choy July 16, 2020 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON KCNA A United Arab Emirates-based tobacco products firm has agreed to pay over $665,000 in fines and institute new compliance measures after admitting to violating U.S. sanctions on North Korea, the U.S. Justice Department announced on Thursday. In a deferred prosecution agreement with the U.S. Justice Department and a settlement agreement with the U.S. Treasury Department, Essentra FZE, at the time a joint-venture with parent UK firm Essentra PLC, admitted to knowing and illegal use of the U.S. banking system in transactions with DPRK entities. A United Arab Emirates-based tobacco products firm has agreed to pay over $665,000 in fines and institute new compliance measures after admitting to violating U.S. sanctions on North Korea, the U.S. Justice Department announced on Thursday. In a deferred prosecution agreement with the U.S. Justice Department and a settlement agreement with the U.S. Treasury Department, Essentra FZE, at the time a joint-venture with parent UK firm Essentra PLC, admitted to knowing and illegal use of the U.S. banking system in transactions with DPRK entities. Become a member for less than $5.75 per week. Unlimited access to all of NK News: reporting, investigations, analysis The NK News Daily Update, an email newsletter to keep you in the loop Searchable archive of all content, photo galleries, special columns Contact NK News reporters with tips or requests for reporting Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts. Subscribe now All major cards accepted. No commitments – you can cancel any time. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update Start your day with the North Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily News Update. Trending

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UAE tobacco firm admits to violating U.S. sanctions on North Korea

U.S. Treasury accuses Essentra FZE of devising "criminal scheme" to fund cigarette tip exports to DPRK

Min Chao Choy July 16, 2020

UAE tobacco firm admits to violating U.S. sanctions on North Korea

KCNA

A United Arab Emirates-based tobacco products firm has agreed to pay over $665,000 in fines and institute new compliance measures after admitting to violating U.S. sanctions on North Korea, the U.S. Justice Department announced on Thursday.

In a deferred prosecution agreement with the U.S. Justice Department and a settlement agreement with the U.S. Treasury Department, Essentra FZE, at the time a joint-venture with parent UK firm Essentra PLC, admitted to knowing and illegal use of the U.S. banking system in transactions with DPRK entities.

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