Korea, North

OFAC is also designating the RGB-controlled Technical Reconnaissance Bureau and its subordinate cyber unit, the 110th Research Center. The DPRK-based Technical Reconnaissance Bureau leads the DPRK’s development of offensive cyber tactics and tools and operates several departments, including those affiliated with the Lazarus Group. On March 23, 2022, the Lazarus Group carried out the largest virtual currency heist to date, stealing about $620 million in virtual currency from a blockchain project linked to the online game Axie Infinity. The Lazarus Group was designated by OFAC on September 13, 2019, as an agency, instrumentality, or controlled entity of the Government of North Korea pursuant to E.O. 13722. Pyongyang University of Automation, Technical Reconnaissance Bureau, and the 110th Research Center are being designated pursuant to E.O. 13687 for being agencies, instrumentalities, or controlled entities of the Government of North Korea or the Workers’ Party of Korea.

https://home.treasury.gov/news/press-releases/jy1498

2023-05-23

US

Executive Order 13687 of January 2, 2015 Imposing Additional Sanctions 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 January 2, 2015, the President issued E.O. 13687 pursuant to, inter alia, IEEPA and the NEA, to take additional steps to address the national emergency declared in E.O. 13466 and expanded in E.O. 13551. E.O. 13687 provides for the blocking of property and interests in property of certain persons with respect to North Korea.

SDN