WASHINGTON – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today designated one individual and one company, and identified as blocked property a vessel in which the company has an interest. The individual and the company designated today are linked to Ocean Maritime Management Company (OMMC), a North Korean shipping company that OFAC had previously designated. Today’s designations were made pursuant to Executive Order (E.O.) 13551, which blocks the property of persons who, among other things, have attempted to import arms or related material into the DPRK or have provided support for such activities or to other persons designated under this E.O. As a result of today’s actions, any property or interests in property of the designated persons that are or come within U.S. jurisdiction must be frozen. Also, transactions by U.S. persons or within the United States involving the property of designated persons, including the identified vessel, are generally prohibited.
In addition to these designations, OFAC also updated the entries on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List) to include known aliases for OMMC and two Tanchon Commercial Bank officials. Tanchon Commercial Bank is known as the primary financial facilitator of North Korea’s ballistic missile program.
“Arms shipments transported by OMMC serve as a key resource for North Korea’s ongoing proliferation activities. Sales from these shipments contribute to North Korea’s other illicit programs,” said Acting Under Secretary for Terrorism and Financial Intelligence Adam J. Szubin. “We are working to make it as challenging as possible for North Korea to continue its unlawful behavior by actively targeting anyone or any business that supports these illicit arms transfers.”
Designation of Senat Shipping Company and its President
In July 2014, the United States and the United Nations (UN) imposed sanctions on OMMC, a shipping company that attempted to import a concealed shipment of arms and related materiel into the DPRK. Today, OFAC designated Singapore-based Senat Shipping Company (Senat) for providing material support to OMMC. This extensive support to OMMC includes arranging the purchase, repair, certification, and crewing of OMMC vessels. OFAC also designated Senat’s President, Leonard Lai, for providing material support to and acting for or on behalf of Senat. Also, OFAC identified the vessel “Dawnlight” as property of Senat.
Updates to the entries on OFAC’s Specially Designated Nationals and Blocked Persons List
Since its designation in July 2014, OMMC has continued to operate through multiple front companies and representative offices to evade sanctions. OMMC’s headquarters in Pyongyang, North Korea created aliases – such as Haeyang Crew Management Company and Korea Mirae Shipping Company Ltd – to evade sanctions. For this reason, Haeyang Crew Management Company and Korea Mirae Shipping Company Ltd are being added to OMMC’s SDN List entry as alternative names for OMMC.
Kim Tong-Myo’ng and Ra Ky’ong-Su were initially designated under E.O. 13382, an authority aimed at freezing the assets of proliferators of weapons of mass destruction and their supporters. Kim is actively working for Tanchon Commercial Bank and travels under an alias. Ra is actively working for Tanchon Commercial Bank and also uses an alias. For this reason, new aliases for both Kim and Ra are being added to their respective SDN List entries as alternative names.
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