Secondary Sanctions Against North Korea Place Global Financial Firms at Risk

Secondary Sanctions Against North Korea Place Global Financial Firms at Risk

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An article written by David Horn and published by Bloomberg BNA's Banking Report warns that non-US based global financial institutions could face risks from secondary sanctions against North Korea and that the Trump Administration may impose. Such sanctions, for instance, could make it more difficult for those firms to directly access US capital markets.

As North Korea continues its provocative missile tests and nuclear activities, the United States appear poised to adopt secondary sanctions that would target Chinese and other firms conducting business with Pyongyang. Global firms operating in Asia or with direct or indirect exposure to North Korea should use the emerging consensus on North Korean secondary sanctions as an opportunity to weigh the lessons of the Iran secondary sanctions program and examine evolving sanctions compliance challenges. Read the full article

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