EU Implements New Shipping Sanctions against DPRK

Image Courtesy: UN Security Council

The European Union has implemented new sanctions against the Democratic People’s Republic of Korea (DPRK), affecting the shipping comunity by prohibiting chartering vessels or providing crew services to the country.

The measures, which were adopted by the United Nations Security Council in late November 2016, were introduced in response to Korea’s nuclear test conducted in September last year.

The sanctions include the prohibition of registering ships in Korea, obtaining authorization for a vessel to use the Korean flag, owning, leasing, operating, providing any vessel classification, certification or associated service, or insuring any vessel flagged by the country.

Additionally, the Committee may require the flag state of a designated vessel to de -flag the ship or direct it to a specific port if there are reasonable grounds to believe the vessels are or have been related to nuclear- or ballistic missile-related activities.

Furthermore, all EU member states are to prohibit a designated vessel from entering their ports, unless in case of emergency, in case of return to the vessel’s port of origination, or in case of direction by the Committee.

A vessel designated by the Committee would also be subject to the asset freeze, according to the Standard Club.

The masures include prohibition of provision of insurance or re-insurance services to vessels owned, controlled, or operated by the Korea, unless determined otherwise, as well as a ban on importing copper, nickel, silver, zinc, and statues form DPRK and exporting new vessels to the country.

The sanctions also imposition an annual cap on Korea’s coal exports, reducing their volume by around 60%.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >