OFAC has published updated guidance for the global shipping industry on North Korea’s “illicit shipping practices”. It focuses on practices such as ship-to-ship transfers of petroleum and coal and falsifying cargo and vessel documents to evade international sanctions. Risk mitigation measures for the industry are also provided, as well as an overview of current sanctions regimes and designation lists relevant to the shipping industry.
Additionally, OFAC has sanctioned two entities: Dalian Haibo International Freight and Liaoning Danxing International Forwarding pursuant to North Korea Sanctions Regulations, sections 510.201 and 510.210. See OFAC Notice.
Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...See profile for Michael O'Kane >