President Issues New Executive Order Expanding North Korea Sanctions
On August 30, 2010, President Obama issued Executive Order 13551, which supplements EO 13382 and expands the scope of the national emergency declared in EO 13466 with respect to certain Democratic People's Republic of Korea (North Korea) sanctions.
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Existing Sanctions Remain in Place, Additional Persons Blocked
EO 13551 leaves in place all existing sanctions imposed under EO 13466, and blocks the property and interests in property of persons listed in the Annex to EO 13551.
New Tools, Criteria for Designations
The new EO provides the U.S. with new tools to disrupt illicit economic activity by North Korea. EO 13551 provides criteria for designations of persons determined by the Secretary of the Treasury, in consultation with the Secretary of State:
- to have, directly or indirectly, imported, exported, or reexported to, into, or from North Korea any arms or related material;
- to have, directly or indirectly, provided training, advice, or other services or assistance, or engaged in financial transactions, related to the manufacture, maintenance, or use of any arms or related materiel to be imported, exported, or reexported to, into, or from North Korea, or following their importation, exportation, or reexportation to, into, or from North Korea;
- to have, directly or indirectly, imported, exported, or reexported luxury goods to or into North Korea;
- to have, directly or indirectly, engaged in money laundering, the counterfeiting of goods or currency, bulk cash smuggling, narcotics trafficking, or other illicit economic activity that involves or supports the Government of North Korea or any senior official thereof;
- to have materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, certain activities or any person whose property and interests in property are blocked pursuant to EO 13551;
- to be owned or controlled by, or to have acted or purported to act for or on behalf of, directly or indirectly, any person whose property and interests in property are blocked pursuant to EO 13551; or
- to have attempted to engage in any of certain activities described in EO 13551.
President’s letter to Congress on EO 13551is available here.
Treasury fact sheet on the EO 13551 is available here.