News N. Korean flagged vessels targeted by OFAC change companies, namesShips now owned by different DPRK companies, continue to visit China, Russia Several North Korean vessels under U.S. Treasury Department sanctions have changed their names and ownership since their designation, several maritime databases show. The North Korean ships and their owners were added to the Office of Foreign Assets Control’s blacklist late last year, though have since changed to different DPRK-based companies and continued visiting foreign ports. Although OFAC designations do not entail port bans like their UN counterparts, they could raise the risk of doing business with sanctioned entities, especially for companies selling or transporting commodities like coal. All the vessels which © Korea Risk Group. All rights reserved. |