On October 26, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions on an additional seven individuals (pursuant to Executive Order 13687) and three entities (pursuant to Executive Order 13722) connected to the North Korean government for ongoing human rights abuses. According to Treasury Secretary Steven T. Mnuchin, the sanctions target “financial facilitators who attempt to keep the regime afloat with foreign currency earned through forced labor operations.” The sanctions freeze all property or interests in property within U.S. jurisdiction, and transactions by U.S. persons involving these individuals and entities are also “generally prohibited.” Please see here for previous InfoBytes coverage on North Korean sanctions.
Separately, on October 30, OFAC released amendments to its Global Terrorism Sanctions Regulations to include recently identified officials, agents, and affiliates connected to Iran’s Islamic Revolutionary Guard Corps. The amendments take effect upon publication in the Federal Register on October 31 and are issued pursuant to the Countering America's Adversaries Through Sanctions Act of 2017 (CAATSA). See previous InfoBytes coverage on CAATSA here.