In a Federal Register Notice (FRN) scheduled for publication on February 16, 2024, the Office of Foreign Assets Control (OFAC) will amend its North Korea Sanctions Regulations.
OFAC is expanding the scope of an existing general license that “authorizes certain transactions in support of specified humanitarian activities of nongovernmental organizations (NGOs) in North Korea” by broadening the specific activities and transactions authorized by this general license.
Additionally, three new general licenses will be added to the Regulations:
- One general license authorizes “transactions incident to the exportation or reexportation to North Korea” of any items subject to the Export Administration Regulations (EAR) that have been licensed or otherwise authorized under the EAR;
- A second general license authorizes “provision of certain agricultural commodities, medicine, and medical devices” that are not subject to the EAR; and
- A third general license authorizes “U.S. news reporting organizations and their employees to engage in certain journalistic activities in North Korea.”
The amendments are effective on February 16, 2024.
The FRN can be found here:
Federal Register :: Public Inspection: North Korea Sanctions Regulations and at 2024-03255.pdf (federalregister.gov)
