Careers

Diversity, Equity & Inclusion

Experience

Innovation

Interactive Maps

Locations

About

Pages

Meet our team of innovators
Ask us how we do it

Professionals

Insights

Services

Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

Home | Thompson Hine LLP

Atlanta

Chicago

Cincinnati

Cleveland

Columbus

Dayton

Los Angeles

Minneapolis

New York

Silicon Valley

Washington, D.C.

Just days after the issuance of an executive order imposing a range of sanctions on North Korea, the Treasury Department&rsquo;s Office of Foreign Assets Control (OFAC) <a href="https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20170926_33.aspx" target="_blank" rel="noopener">has taken further action</a> by placing eight North Korean banks and 26 individuals linked to North Korean financial networks on the Specially Designated Nationals List (SDN List). As a result of this action, any property or interests in property of the designated persons in the possession or control of U.S. persons or within the United States must be blocked. &ldquo;We are targeting North Korean banks and financial facilitators acting as representatives for North Korean banks across the globe,&rdquo; said Treasury Secretary Steven T. Mnuchin.
OFAC has designated the following eight North Korean banks: Agricultural Development Bank, Cheil Credit Bank, Hana Banking Corporation Ltd, International Industrial Development Bank, Jinmyong Joint Bank, Jinsong Joint Bank, Koryo Commercial Bank Ltd. and Ryugyong Commercial Bank. Also, two other banks already on the SDN List have been further designated as being part of the government of North Korea &shy;&ndash; the Foreign Trade Bank of the Democratic People&rsquo;s Republic of Korea and the Central Bank of Democratic People&rsquo;s Republic of Korea. Foreign Trade Bank is North Korea&rsquo;s primary foreign exchange bank.
The individuals sanctioned by OFAC are North Korean nationals operating in China, Russia, Libya and the United Arab Emirates who act as representatives of North Korean banks.

core/freeform

SmarTrade

OFAC Issues Further Sanctions on North Korea