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Council reinforces EU sanctions against North Korea

EU News 79/2013

18 February 2013
Council of the European Union

The Council today strengthened EU restrictive measures against the Democratic People's Republic of Korea (DPRK). In view of the recent nuclear test and ballistic missile test on 12 December, this is the EU's first step in defence of the international non-proliferation regime. Today's decisions implement sanctions approved by the UN in January, but also include autonomous EU measures.

The decision gives effect to measures provided for in UN Security Council resolution 2087. As this includes notably a number of additional designations, this will bring the total number of persons subject to a travel ban and an asset freeze to 26 while the total number of entities targeted by an asset freeze now amounts to 33.

Besides, the Council agreed EU autonomous sanctions: It banned the export and import key components for ballistic missiles with the DPRK, such as certain types of aluminium used in ballistic missile-related systems. The precise scope of that provision will be defined in implementing legislation that is yet to be adopted.

The Council also prohibited trade in new public bonds from the DPRK. It outlawed trade in gold, precious metals and diamonds with North Korean public bodies and stopped the delivery of new DPRK denominated banknotes and coinage to the central bank of the DPRK. North Korean banks will no more be allowed to open new branches in the Union nor establish joint ventures with European financial institutions. Nor will European banks be permitted to establish offices and subsidiaries in the DPRK.

Finally, the Council took steps enabling future restrictions against persons and entities involved in trade with the DPRK in conventional arms or nuclear and ballistic components.

The Council expressed its political determination to consider further restrictive measures in consultation with key partners.

The acts adopted today will be published in the Official Journal of 19 February.

More information:
Council conclusions on the Democratic People's Republic of Korea