On 30 November 2016, the UN Security Council unanimously approved Resolution 2321 (2016), imposing new sanctions on the Democratic People’s Republic of Korea (“DPRK”) in response to its nuclear test on 9 September 2016. The new measures are aimed at cutting off funding for the DPRK’s nuclear and banned weapons programmes, in particular targeting the DPRK mining sector, as well as extending existing restrictions on strategic and luxury goods. The Resolution also expands the list…
After the Democratic People’s Republic of Korea (“DPRK“) carried out its fifth nuclear test last Friday 12th September, some press reports indicated that the United Nations Security Council (“UNSC“) had agreed to impose new sanctions on the nation. The DPRK has been hit by five sets of UNSC sanctions since it first tested a nuclear device in 2006, most recently on 2nd March 2016 (see our related blog post here).
On the 4th August 2016, the European Union amended its restrictive measures on the Democratic People’s Republic of Korea (“DPRK”) to implement new measures against the DPRK as set out in UN Resolution 2270, adopted by the Security Council on 2nd March 2016.
Introduction
Following the Democratic People’s Republic of Korea’s (“DPRK” or “North Korea“) latest nuclear test and rocket launch on 6 January 2016 and 7 February 2016 respectively, the UN Security Council (“UNSC“) unanimously adopted Resolution 2270 (2016) (the “UN Resolution“) on 2 March 2016.
The UN Resolution contains far-reaching sanctions aimed at cutting off funds for DPRK’s nuclear and other banned weapons programmes, whilst avoiding “adverse humanitarian consequences” for civilians. The UN Resolution adds sectoral sanctions, broadens the scope of the existing financial sanctions and arms embargo, imposes new measures targeting proliferation networks, and expands the list of designated individuals and entities.