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U.S. amendments to North Korea sanctions regulations

Modification of a general license that authorizes certain transactions in support of specified humanitarian activities of NGOs

February 15, 2024

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today issued a final rule amending the North Korea sanctions regulations to modify a general license that authorizes certain transactions in support of specified humanitarian activities of non-governmental organizations.

OFAC is also adding general licenses to authorize:

  • Transactions related to the exportation and reexportation of items authorized by the U.S. Department of Commerce
  • The provision of certain agricultural commodities, medicine, and medical devices
  • Certain journalistic activities in North Korea

Read the final rule [PDF 287 KB]

Additionally, OFAC today issued new North Korea-related “frequently asked questions” (FAQs) (1160116111621163) and amended other FAQs (459463558).

For more information, contact a professional with KPMG’s Trade & Customs services:

Doug Zuvich
Partner and Global Practice Leader
E: dzuvich@kpmg.com
John L. McLoughlin
Principal and East Coast Leader
E: jlmcloughlin@kpmg.com
Andy Siciliano
Partner and National Practice Leader
E: asiciliano@kpmg.com
Steve Brotherton
Principal and Global Export and Sanctions Leader
E: sbrotherton@kpmg.com
Luis (Lou) Abad
Principal, Washington National Tax
E: labad@kpmg.com
Irina Vaysfeld
Principal
E: ivaysfeld@kpmg.com
Amie Ahanchian
Principal
E: aahanchian@kpmg.com
Christopher Young
Principal
E: christopheryoung@kpmg.com
Gisele Belotto
Principal
E: gbelotto@kpmg.com
George Zaharatos
Principal
E: gzaharatos@kpmg.com
Andy Doornaert
Managing Director
E: adoornaert@kpmg.com
Jessica Libby
Principal
E: jlibby@kpmg.com
John Anderson
Managing Director
E: johneanderson@kpmg.com
Jenna Leigh Glass
Managing Director
E: jennaleighglass@kpmg.com

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