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Department of Commerce ("BIS"), effective January 26, 2007, has (i) imposed new restrictions on all exports and reexports of items subject to the Export Administration Regulations ("EAR"), excluding food and medicines but including luxury goods, to the Democratic People's Republic of Korea ("North Korea"), (ii) reaffirmed existing restrictions relating to nuclear or missile-related items, and (iii) rendered inapplicable for North Korea most of the license exceptions set forth in Part 740 of the EAR
