This news release is issued in respect of the restrictive measures directed against the Democratic People's Republic of Korea.
Council Regulation (EU) 2017/1509 has been amended following the publication in the Official Journal of the European Union of Council Implementing Regulation (EU) No 2018/1606(“the Amending Regulation”).
The Amending Regulation amends Annex XIV to Council Regulation (EU) 2017/1509 with effect from 26 October 2018.
The following vessels have been added to the list of entries subject to an asset freeze.
Addition
Entities
KUM UN SAN 3
Other Information: IMO: 8705539. The DPRK oil tanker KUM UN SAN 3 engaged in a ship-to-ship transfer, likely for oil, with the M/V NEW REGENT on June 7, 2018. Date of UN designation 16.10.2018.
Listed on: 26/10/2018 Last Updated: 26/10/2018 Group ID: 13718.
NEW REGENT
Other Information: IMO: 8312497. The M/V NEW REGENT engaged in a ship-to-ship transfer, likely for oil, with DPRK oil tanker KUM UN SAN 3 on June 7, 2018. Date of UN designation 16.10.2018.
Listed on: 26/10/2018 Last Updated: 26/10/2018 Group ID: 13717.
SHANG YUAN BAO
Other Information: IMO: 8126070. The merchant vessel M/V SHANG YUAN BAO engaged in a ship-to-ship transfer, likely for oil, with UN-designated DPRK vessel M/V PAEK MA on May 18, 2018. The SHANG YUAN BAO also engaged in a ship-to-ship transfer, likely for oil, with the DPRK vessel MYONG RYU 1 on June 2, 2018. Date of UN designation 16.10.2018.
Listed on: 26/10/2018 Last Updated: 26/10/2018 Group ID: 13716
Financial institutions and other persons are requested to check whether they maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, the designated entities . If so, they must freeze such accounts or other funds and, unless licensed by the Treasury, refrain from dealing with said funds or economic resources, and suspend the provision of any financial services. They must also report their findings to the FIU.
Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence.
Further details of the sanctions regime related to the Democratic People’s Republic of Korea and links to the Consolidated List of individuals and entities subject to these and other financial sanctions may be found on the Customs and Excise pages of the Isle of Man Government website.
