OFAC FAQ (Current) # 558 - North Korea Sanctions (PDF contains all versions)

Date issued: Feb. 15 2024

Last substantive commentary amendment:
Feb. 16 2024

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TURBOFAC Commentary (937 words)

Notes:

1) Prior to 2-15-24, when there was no "news bureaus" GL in the NKSR, this FAQ (see original version at bottom left) was aimed at explaining that certain news-related activities (e.g. travel and informational materials transaction) were exempt from regulation, but that the exemption did not apply to “employ[ing] North Korean government guides or purchas[ing] North Korean-origin technology”.

2) On 2-15-24, OFAC added 510.522, which is a version of OFAC’s standard “news bureaus” GL. See 510.522 and comments thereto. This amended version of the FAQ preserves some commentary on the IEEPA exemptions with the added note that they “do not apply to transactions prohibited pursuant to the United Nations Participation Act” (see 510.213(a)).

3) OFAC says “Exports and reexports of items that are subject to...