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Article: Strict Export Controls Reimposed On North Korea.
- Article from:
- Mondaq Business Briefing
- Article date:
- February 16, 2007
- Author:
CopyrightCOPYRIGHT 2007 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Consistent with United Nations Security Council Resolution 1718 of October 14, 2006 calling on member states to impose sanctions on North Korea, on December 7, 2006 President Bush issued a Determination that North Korea had detonated a nuclear explosive device on October 9, 2006 and directed all agencies to take specified actions, including a restriction on the export of "luxury goods" to North Korea. Implementing this Determination, effective January 26, 2007, the U.S. Department of Commerce, Bureau of Industry and Security (BIS) imposed a new export licensing requirement for exports and reexports to the People's Democratic Republic of Korea (North Korea).
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