The International Trade Practice Center on Bloomberg Law® provides in one comprehensive, time-saving resource.
By K. Claire Compton
Jan. 2 — The Treasury Department announced sanctions against the North Korean government in response to a series of cyberattacks in recent months, including ones affecting Sony Pictures Entertainment.
The Treasury Jan. 2 also said the sanctions were in response to “provocations” that included threats against movie theaters and audiences. President Barack Obama the same day signed the executive order authorizing the sanctions against both the government of North Korea and the Workers’ Party of Korea.
“This step reflects the ongoing commitment of the United States to hold North Korea accountable for its destabilizing, destructive and repressive actions, particularly its efforts to undermine U.S. cyber-security and intimidate U.S. businesses and artists exercising their right of freedom of speech,” a statement from Treasury said.
Treasury Secretary Jacob J. Lew said the Federal Bureau of Investigation is continuing to investigate the cyberattack against Sony, in which the company's internal e-mails were stolen and leaked to the public. The sanctions name three entities and 10 individuals determined to be owned by or working for either the North Korean government or the Worker's Party of Korea. They include the Reconnaissance General Bureau (RGB), the Korea Mining Development Trading Corporation (KOMID) and the Korea Tangun Trading Corporation.
Under the sanctions, the designated persons and entities are denied access to the U.S. financial system, and prohibits U.S. citizens or residents from engaging in transactions with the designated companies or persons.
“The actions taken today under the authority of the President’s new Executive Order will further isolate key North Korean entities and disrupt the activities of close to a dozen critical North Korean operatives. We will continue to use this broad and powerful tool to expose the activities of North Korean government officials and entities,” Lew said in a statement.
To contact the reporter on this story: K. Claire Compton in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Heather Rothman at email@example.com
The Treasury's statement on North Korean sanctions can be found here: http://www.treasury.gov/press-center/press-releases/Pages/jl9733.aspx
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)