On May 28th, the EU adopted Council Regulation (EU) No 2016/841, which makes the following changes to sanctions on North Korea:
With effect from 29 May 2016 it is prohibited to:
- i Transfer funds to and from North Korea unless the funds are for a specific purpose as listed in the Regulation;
- ii Transfer any funds over EUR 15,000 without specific authorisation from HM Treasury and;
- iii Provide financial support for trade with North Korea; and
- iv Accept or approve investment in any commercial activity as detailed in the
Regulation.
Links:
Council Regulation (EU) No 2016/841
Filed under: EU Updates, HMT Updates, North Korea (DPRK) Sanctions, Sanctions Regulations, Uncategorized
