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UN Security Council

Switzerland introduced an ordinance for enforcement of United Nations Security Council Resolution 2270 (UNSCR 2270) imposing sanctions against North Korea for its recent nuclear and missile tests.

Meanwhile Russia’s central bank notified financial institutions that they should halt financial transactions with North Korea.

The moves by those two countries and other UN members to establish domestic laws for implementing UNSCR 2270 reflect the lack of time left before the deadline for submitting an enforcement report - namely within 90 days of the resolution’s Mar. 2 adoption. In the case of the 2013 adoption of UNSCR 2094, just eight countries submitted reports on time.

The ordinance announced by Switzerland on May 18 in connection with the resolution included such measures as a freeze on cash and assets related to North Korea nuclear and missile development, the closing of North Korean banks and bank branches operating in the country, and an increased list of luxury items subject to embargoes. South Korean intelligence agencies suspect that leader Kim Jong-un holds a secret bank account in Switzerland, where he studied abroad as a child.

Russia’s central bank announced on May 19 that it had sent notice to commercial banks on measures to enforce UNSCR 2270. In particular, the measures ban financial transactions with North Korea except in cases approved by the UN.

The bank also ordered an immediate freeze on bonds owned by North Korean individuals, institutions, and organizations subject to sanctions and the closing of financial accounts related to North Korea nuclear and missile development.

Russia is currently working on a presidential decree for enforcement of the resolution.

But while some 80 days have passed since UNSCR 2270’s adoption, no specific effects on North Korea have yet been observed. While the resolution places aviation fuel under embargo, the NK News reported on May 20 that the North Korean airline Air Koryo plans to introduce a new route between Pyongyang and Uiju, North Pyongan Province, as of June 6. The route will reportedly operate once a week with a 38-seat AN-24 aircraft.

Voice of America reported the resumption of a previously regular Air Koryo route between Pyongyang and Kuwait, which had shown no records of service since February. It was not confirmed whether full regular service had been resumed.

By Kim Jin-cheol, staff reporter

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