Russia international efforts to enforce financial sanctions on North Korea

Posted on : 2016-05-09 18:00 KST Modified on : 2019-10-19 20:29 KST
Enforcement will include the closure of North Korean bank affiliates and other economic projects in Russia
A meeting of the UN Security Coucil
A meeting of the UN Security Coucil

Russia has announced plans to take measures needed for the enforcement of financial sanctions as part of United Nations Security Council Resolution 2270 (UNSCR 2270), which was adopted in March in the wake of North Korea’s fourth nuclear test in January.

Interfax and Tass reported on May 6 on an announcement by the Russian Foreign Ministry citing the draft of a decree by President Vladimir Putin for the resolution’s enforcement.

“By presidential decree, all necessary measures are to be adopted within 90 days of Mar. 2 to close North Korean bank affiliates, branch offices, missions, and joint ventures within Russia and ban the purchasing of shares in and remittance transactions with North Korean banks,” the announcement said.

The report also said the establishment of new North Korean bank affiliates, branch offices, missions, and joint ventures in Russia would be banned.

On Mar. 2, the UN Security Council unanimously adopted UNSCR 2270 sanctioning North Korea after its nuclear test and long-range rocket (missile) launches this year.

By Jeon Jeong-yun, staff reporter

Please direct questions or comments to [english@hani.co.kr]

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