New Sanctions on North Korea

Posted on: 03/03/2016

UN, US, EU, and Switzerland impose tough new sanctions on North Korea as a result of its nuclear programme 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 which 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.

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