On February 23, 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the largest North Korea-related sanctions package, targeting 56 shipping and trading companies and vessels, and one individual.
Treasury Secretary Steven Mnuchin said, “Treasury is aggressively targeting all illicit avenues used by North Korea to evade sanctions, including taking decisive action to block the vessels, shipping companies, and entities across the globe that work on North Korea’s behalf.”
According to the announcement, “any property or interests in property of the designated persons in the possession or control of U.S. persons or within the United States must be blocked, and U.S. persons are prohibited from dealing with any of the designated parties.”
The press release may be found here:
