Is North Korea using deceptive shipping practices to evade sanctions?

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), with the Department of State and the U.S. Coast Guard, is issuing this advisory to alert persons globally to deceptive shipping practices used by North Korea to evade sanctions .

Does daizin trading export coal from North Korea?

Since as early as mid-2016, Daizin Trading has exported coal from North Korea. In at least one instance, Daizin Trading has claimed that the coal is of Russian origin, obfuscating its North Korean origin.

Who buys fuel oil in North Korea?

Pisklin, through Transatlantic, concluded a contract to purchase fuel oil with Daesong Credit Development Bank, a North Korean bank designated in 2016. Serbin is a representative of Transatlantic who worked with Irina Huish of Velmur Management Pte. Ltd. (“Velmur”) to purchase gasoil for delivery to North Korea.

Does South Korea still trade fuel?

Hugh Griffiths, a former co-ordinator of the UN panel that monitors North Korea sanctions, said the South Korean foreign ministry endorsed a package of best practices for compliance in 2018, but “small companies without proper standards” continued to trade fuel.

Did Chinese ship oil into North Korea?

A joint investigation by the Financial Times and the Royal United Services Institute think-tank tracked a shipment of marine oil from South Korea’s south-east coast into North Korea’s exclusive economic zone under a deal brokered by a mysterious Chinese shipping agent.

Will the Treasury increase pressure on North Korea?

“Treasury will continue to increase pressure on North Korea by targeting those who support the advancement of nuclear and ballistic missile programs, and isolating them from the American financial system,” said Treasury Secretary Steven T. Mnuchin.