A UN-commissioned report published by a panel of experts has found that North Korea has been developing and adopting sophisticated financial countermeasures to counteract the effect of UN sanctions and thus persist with its nuclear missile programmes and other activities prohibited by the sanctions.
The experts found that an international network of foreign-based firms and individuals had been cooperating with the North Korean regime to purchase illicit goods on its behalf, using multi-layered and multi-jurisdictional payment structures. North Korean embassies are suspected of acting as facilitators to such transactions. For example, evidence has linked embassies in Cuba and Singapore to a North Korea-bound shipment of fighter jets and missile parts seized in Panama last year.
The UN North Korean sanctions committee is currently considering the report. It has been reported, however, that Security Council diplomats do not anticipate the report leading to further restrictive measures in the near future.