North Korea Designations; Issuance of Venezuela-related General License

The Office of Foreign Assets Control (OFAC) has published a press release informing about new sanction measures. Specifically, the Office added one individual and four entities to its Specially Designated Nationals and Blocked Persons List (SDN List) pursuant to existing sanction regulations, Executive Order 13810 and Executive Order 13687. The parties are sanctioned due to them being entities and persons of the Democratic People’s Republic of Korea (DPRK) and thus generating income for the country or for their ties to the Korean government. OFAC has also issued a corresponding press statement in this context to further describe its reasoning for the designations. The affected person and entities of this sanction measure are the following:
##### Individual
KIM, Sang Man (Korean: 김상만) (a.k.a. KIM, Sangman), Russia; Korea, North; DOB 25 Apr 1965; POB North Pyongan Province, North Korea; nationality Korea, North; Gender Male; Digital Currency Address – XBT 1D6gG9iKEhPitTcWRJiniuj1jYM2hNeAfJ; alt. Digital Currency Address – XBT 1FCNgfZWpYMeYhy9t18AAkTBu8AsdoAc1Z; Digital Currency Address – ETH 0x97b1043abd9e6fc31681635166d430a458d14f9c; alt. Digital Currency Address – ETH 0xb6f5ec1a0a9cd1526536d3f0426c429529471f40; Secondary sanctions risk: North Korea Sanctions Regulations, sections 510.201 and 510.210; Transactions Prohibited For Persons Owned or Controlled By U.S. Financial Institutions: North Korea Sanctions Regulations section 510.214; Digital Currency Address – USDT 0xb6f5ec1a0a9cd1526536d3f0426c429529471f40; Digital Currency Address – USDC 0xb6f5ec1a0a9cd1526536d3f0426c429529471f40; Passport 109420132 (Korea, North) issued 16 Oct 2019 expires 16 Oct 2024; alt. Passport 827220538 (Korea, North); alt. Passport 563220082 (Korea, North) (individual) [DPRK4].
##### Entities
110TH RESEARCH CENTER (a.k.a. „LAB 110“; a.k.a. „UNIT 110“), Pyongyang, Korea, North; Shenyang, China; Secondary sanctions risk: North Korea Sanctions Regulations, sections 510.201 and 510.210; Transactions Prohibited For Persons Owned or Controlled By U.S. Financial Institutions: North Korea Sanctions Regulations section 510.214; Target Type Government Entity [DPRK2].
CHINYONG INFORMATION TECHNOLOGY COOPERATION COMPANY (a.k.a. JINYONG IT COOPERATION COMPANY), Korea, North; Secondary sanctions risk: North Korea Sanctions Regulations, sections 510.201 and 510.210; Transactions Prohibited For Persons Owned or Controlled By U.S. Financial Institutions: North Korea Sanctions Regulations section 510.214; Organization Type: Other information technology and computer service activities [DPRK2].
PYONGYANG UNIVERSITY OF AUTOMATION (a.k.a. COMMAND AUTOMATION COLLEGE OF THE CHOSUN PEOPLE’S ARMY; a.k.a. KIM IL MILITARY UNIVERSITY; a.k.a. KIM IL POLITICAL MILITARY UNIVERSITY; a.k.a. KIM IL SUNG MILITARY UNIVERSITY; a.k.a. KIM IL-SUNG UNIVERSITY AUTOMATION UNIVERSITY; a.k.a. MILITARY CAMP 144 OF THE KOREAN PEOPLE’S ARMY; a.k.a. MIRIM COLLEGE; a.k.a. MIRIM UNIVERSITY; a.k.a. NO. 144 MILITARY CAMP OF THE CHOSUN PEOPLE’S ARMY; a.k.a. UNIVERSITY OF AUTOMATION), Pyongyang, Korea, North; Secondary sanctions risk: North Korea Sanctions Regulations, sections 510.201 and 510.210; Transactions Prohibited For Persons Owned or Controlled By U.S. Financial Institutions: North Korea Sanctions Regulations section 510.214; Organization Established Date 1981; Target Type Government Entity [DPRK2].
TECHNICAL RECONNAISSANCE BUREAU (a.k.a. 3RD BUREAU OF THE RGB; a.k.a. 3RD DEPARTMENT SIGNAL INTELLIGENCE; a.k.a. 3RD TECHNICAL SURVEILLANCE BUREAU; a.k.a. TECHNICAL RECONNAISSANCE TEAM; a.k.a. „THIRD BUREAU“), Korea, North; Secondary sanctions risk: North Korea Sanctions Regulations, sections 510.201 and 510.210; Transactions Prohibited For Persons Owned or Controlled By U.S. Financial Institutions: North Korea Sanctions Regulations section 510.214; Target Type Government Entity [DPRK2].
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Also, OFAC issued a new General License 8L in connection with Venezuela-related sanctions. The license permits (financial) „transactions Involving Petróleos de Venezuela, S.A. (PdVSA) necessary for the limited maintenance of essential operations in Venezuela or the wind down of operations in Venezuela for certain entities“ that would otherwise be prohibited due to sanction measures imposed on Venezuela (Executive Order (E.O.) 13850 and E.O. 13884). The affected entities are:
• Halliburton
• Schlumberger Limited
• Baker Hughes Holdings LLC
• Weatherford International, Public Limited Company
The new General License replaces General License 8K, dated November 26, 2022, in its entirety and is valid through November 19, 2023, 12:01 a.m. eastern standard time.