The US Treasury has introduced a requirement that banks obtain a licence from OFAC before granting North Korean diplomats bank accounts, or extending credit to them or their families. This follows a UN Security Council Resolution in early December requiring Member States to limit North Korean diplomatic missions to one bank account each (see previous blog). The restrictions are intended to prevent the bank accounts of North Korean diplomats from being used to evade sanctions.
Maya Lester QC is a senior barrister (Queen’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. The legal directories say she is the...See profile for Maya Lester QC >