31 CFR § 510.209 - Prohibited new investment in North Korea.

Date issued: Mar. 05 2018

Last substantive commentary amendment:
Feb. 17 2024

TURBOFAC Commentary (196 words)

Notes:

1) This provision is common in all IEEPA-based embargo programs. For more on the way in which the provision is interpreted in a cross-programmatic manner, refer to General Note on 'New Investment' Prohibitions in Embargo Programs (System Ed. Note).

2) Only the NKSR version of this prohibition contains language similar to what is found in 510.209(b). For comments on the background, see General Comment on the Relationship Between the North Korea Sanctions Regulations and Export Controls Administered by the Dep’t of Commerce (System Ed. Note) ([2-16-24 Update – the implementation of 510.520 largely renders System Note irrelevant for practical compliance purposes. See comments to 510.520, and note that this comment has not been updated to reflect the implementation into the NKSR of 510.520]). 510.209(b) is a direct implementation of the language of Section 3(a) of E.O. 13722, which applies to the broad export prohibition, the facilitation prohibition and new investment prohibition. While it is difficult to imagine an export otherwise outside the scope of 510.206 constituting "new investment," EO 13722 was evidently drafted to ensure that nobody would take that interpretation.