Analysis What OFAC’s new sanctions mean for North Korean shippingNew measures hint at wider evasion, though effectiveness is unclear On Tuesday, the U.S. Treasury Department issued a fourth set of designations on North Korean shipping, using Executive Order (EO) 13810, signed by President Trump on September 21, to designate 20 members of the DPRK’s merchant fleet. The press release accompanying the designations said the vessels and their associated companies were targeted for their roles in the DPRK’s transportation industry. The wide-ranging EO 13810 gives Treasury’s Office of Foreign Assets Control (OFAC) sweeping powers to target various North Korean sectors, including anyone involved in the North’s “construction, energy, financial services, fishing, information technology, manufacturing © Korea Risk Group. All rights reserved. |