OFAC amends North Korea Sanctions Regulations

On 9th April 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended the North Korea Sanctions Regulations, 31 C.F.R. part 510. These amendments allow for the further execution of the North Korea Sanctions and Policy Enhancement Act of 2016, as amended by the Countering America’s Adversaries Through Sanctions Act of 2017 and the National Defense Authorization Act for Fiscal Year 2020. The changes came into effect on 10th April 2020; for further information see the OFAC Recent Actions notice.