Russia

Stalin Street 20, Tskhinvali, South Ossetia, Georgia

1159800030409, Registration Number

In a scheme orchestrated by the Central Bank of Russia, MRB Bank (MRB), based in Georgia’s South Ossetia region, acted as a cut-out for a designated Russian bank, TSMRBank, OOO (TSMRBank), to establish a secret banking relationship with the FTB. TSMRBank vice president Dmitry Yuryevich Nikulin (Nikulin) facilitated cash deposits from FTB through TSMRBank to MRB. Nikulin organized the opening of correspondent accounts for FTB and KKBC at MRB and coordinated with DPRK representatives to ensure the delivery of millions of dollars and rubles in banknotes to FTB and KKBC accounts at MRB. At least some of the DPRK accounts at MRB were used to pay for fuel exports from Russia to the DPRK. OFAC is designating MRB, RFC, Stroytreyd and TSMRBank pursuant to E.O. 13722 for having attempted to materially assist, sponsor, or provide financial, material, or technological support for, or goods or services to or in support of, the Government of North Korea and pursuant to E.O. 14024, as amended, for operating or having operated in the financial services sector of the Russian Federation economy.

https://home.treasury.gov/news/press-releases/jy2590

2024-09-19

US

Executive Order 13722 of March 15, 2016 Blocking Property of the Government of North Korea and the Workers’ Party of Korea, and Prohibiting Certain Transactions With Respect to North Korea

OFAC country specific / UN

Democratic People's Republic of Korea

Blocking Property, Suspending Entry, Trade sanctions

• https://ofac.treasury.gov/faqs/topic/1556 460. Can U.S. persons do business with entities in North Korea? No. Unless authorized pursuant to a general or specific license from OFAC and/or BIS, Executive Order (E.O.) 13722 prohibits new investment in North Korea by a U.S. person and the exportation or reexportation, from the United States, or by a U.S. person, of any goods, services, or technology to North Korea. E.O. 13810 (“Imposing Additional Sanctions with Respect to North Korea”) does not modify any of those prohibitions.

On March 15, 2016, the President issued E.O. 13722 pursuant to, inter alia, IEEPA, the NEA, the UNPA, and the North Korea Sanctions and Policy Enhancement Act of 2016 (22 U.S.C. § 9201 et seq.) (the NKSPEA), to take additional steps to address the national emergency declared in E.O. 13466 and expanded in E.O. 13551, in light of further North Korean nuclear and ballistic missile tests. E.O. 13722 was issued to ensure implementation of certain provisions of UNSCR 2270 of March 2, 2016 and the NKSPEA; it strengthened export and other trade restrictions against North Korea; and imposed a comprehensive blocking of the Government of North Korea and the Workers’ Party of Korea.

SDN