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Date: 29-Jul-2024 Category: Not Applicable State: Union Government Country: Europe

Council Implementing Regulation (EU) 2024/2070 of 26 July 2024 implementing Regulation (EU) 2017/1509 concerning restrictive measures against the Democratic People’s Republic of Korea

Issued by Council of the European Union · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • Council Implementing Regulation (EU) 2024/2070 updates the list of entities subject to restrictive measures against the Democratic People’s Republic of Korea (DPRK) as outlined in Regulation (EU) 2017/1509. This update reflects changes made by the United Nations Security Council (UNSC) Committee established pursuant to UNSC Resolution 1718 (2006).

Key Changes

  • Annex XIII to Regulation (EU) 2017/1509 is amended to reflect updated information regarding two entities.
  • Specifically, entries 29 and 54 under the heading ‘(b) Legal persons, entities and bodies’ are replaced.
  • Entry 29, concerning National Aerospace Technology Administration (NATA), includes the alias 'f.k.a.: National Aerospace Development Administration; f.k.a.: NADA'. It is involved in the DPRK’s development of space science and technology, including satellite launches and carrier rockets. It was designated by the UN on 2.3.2016.
  • Entry 54, concerning Ministry of National Defence, includes the aliases 'Ministry of National Defense; Ministry of Defence; Ministry of Defense; f.k.a.: Ministry of the People’s Armed Forces (MPAF)'. It manages the general administrative and logistical needs of the Korean People’s Army. It was designated by the UN on 22.12.2017.

Impact Analysis

Businesses and Organizations

  • Action Item: Review existing compliance programs and update screening protocols to incorporate the changes to Annex XIII of Regulation (EU) 2017/1509. Conduct due diligence on existing and potential business relationships to ensure no dealings with sanctioned entities.

Financial Institutions

  • Action Item: Update KYC/AML screening systems to include the updated entity information. Provide training to relevant staff on the changes to the sanctions regime.

EU Member States

  • Action Item: Ensure national legislation reflects the changes in Regulation (EU) 2017/1509 as amended by Regulation (EU) 2024/2070. Communicate the changes to relevant national agencies and stakeholders.

Key Entities Referenced

Council of the European Union: The body responsible for adopting the implementing regulation. Regulation (EU) 2017/1509: Council Regulation concerning restrictive measures against the Democratic People’s Republic of Korea. Regulation (EU) 2024/2070: Council Implementing Regulation amending Regulation (EU) 2017/1509. United Nations Security Council (UNSC): The UN body that initially imposed sanctions on the DPRK. UNSC Resolution 1718 (2006): The UN Security Council resolution that established the committee responsible for updating the sanctions list. National Aerospace Technology Administration (NATA): DPRK entity involved in the development of space science and technology, including satellite launches and carrier rockets. Formerly known as National Aerospace Development Administration and NADA. Ministry of National Defence: DPRK entity that manages the general administrative and logistical needs of the Korean People’s Army. Formerly known as Ministry of the People’s Armed Forces (MPAF).
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Official Journal EN of the European Union L series 2024/2070 29.7.2024 COUNCIL IMPLEMENTING REGULATION (EU) 2024/2070 of 26 July 2024 implementing Regulation (EU) 2017/1509 concerning restrictive measures against the Democratic People’s Republic of Korea THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Council Regulation (EU) 2017/1509 of 30 August 2017 concerning restrictive measures against the Democratic People’s Republic of Korea and repealing Regulation (EC) No 329/2007 (1), and in particular Article 47(5) thereof, Having regard to the proposal from the High Representative of the Union for Foreign Affairs and Security Policy, Whereas: (1) On 30 August 2017, the Council adopted Regulation (EU) 2017/1509. (2) On 7 March and 15 April 2024, the United Nations Security Council (UNSC) Committee established pursuant to UNSC Resolution 1718 (2006) updated the information relating to two entities subject to restrictive measures. (3) Regulation (EU) 2017/1509 should therefore be amended accordingly, HAS ADOPTED THIS REGULATION: Article 1 Annex XIII to Regulation (EU) 2017/1509 is amended in accordance with the Annex to this Regulation. Article 2 This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 26 July 2024. For the Council The President BÓKA J. (1) OJ L 224 31.8.2017, p. 1. ELI: http://data.europa.eu/eli/reg_impl/2024/2070/oj 1/2ANNEX In Annex XIII to Regulation (EU) 2017/1509, under the heading ‘(b) Legal persons, entities and bodies’, entries 29 and 54 are replaced by the following: Name Alias Location Date of UN designation Other information ‘29. National Aerospace Technology f.k.a.: National Aerospace DPRK 2.3.2016 NATA is involved in the DPRK’s development of space Administration (NATA) Development Administration; science and technology, including satellite launches and carrier rockets. f.k.a.: NADA 54. Ministry of National Defence Ministry of National Defense; Pyongyang, DPRK 22.12.2017 The Ministry of National Defence manages the general administrative and logistical needs of the Korean People’s Ministry of Defence; Army.’ Ministry of Defense; f.k.a.: Ministry of the People’s Armed Forces (MPAF) 2/2 ELI: http://data.europa.eu/eli/reg_impl/2024/2070/oj EN OJ L, 29.7.2024

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