Russia; Russia; Russia

d. 23 str, 2, ul. Bakhrushina, Moscow, 115054, Russia; 58, prospekt Ibragimova, Kazan, 420066, Tatarstan, Russia; Bldg. 2, St. Bakhrushina, 23, Moscow, 115054, Russia

1021600000146, Registration Number; 09265705, Government Gazette Number; 1653016689, Tax ID No.; 2534006KGFLPAAXC1X76, Legal Entity Number

As a part of a separate scheme in late 2023, the U.S.-designated Russian Financial Corporation Bank JSC (RFC), worked with FTB to establish a Moscow-based company, Stroytreyd LLC (Stroytreyd), to receive frozen DPRK funds held in defunct Russian banks. As a part of this effort to repatriate frozen assets to the DPRK, RFC-owned Timer Bank, AO (Timer Bank) transferred funds worth millions of dollars to Stroytreyd that were for the ultimate benefit of FTB. DPRK government officials worked with the RFC to increase high-level economic exchanges between the DPRK and Russia and to enhance financial collaboration between the two countries. FTB has also worked with RFC toward opening accounts for other DPRK banks, including U.S.-designated, DPRK-based Agricultural Development Bank. OFAC is designating Timer Bank pursuant to both E.O. 13722 and E.O. 14024, as amended, for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, RFC.

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