North Korea accused of violating sanction at the UN

A coalition of 26 countries including USA has accused the North Korean regime for violation on the restriction to import refined petroleum.

A similar request was blocked by China and Russia (North Koreas main suppliers) last July.

It is believed that this time will not be the case as prior consultation took place.

As per the accusations, Mr. Pyongyang (North Korean leader) regime acquired more than the allowed threshold of 5000000 barrels this year.

Id the UN security council notes that the accusation is factual, deliveries will be held.

It was reported that “It said most of the excess petroleum products were obtained from dozens of illegal ship-to-ship transfers.”

As per information reported, the Security Council believes that North Korea obtained 3 to 5 million barrels and that many illegal transfers took place.



Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.

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