Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.
The release of the United Nations North Korea Panel of Experts
report for March 2020 outlines the main areas of activity deployed
by the Democratic People's Republic of Korea (DPRK) to circumvent
security council resolutions. The report outlines DPRK methods to
avoid restrictions on commodity imports and exports together with
recommendations and practical measures to address any shortcomings
when implementing sanctions compliance programs relating to the
country.
The main areas of focus by the United Nations Panel include
maritime activity especially in the transportation of oil, coal and
sand by the DPRK via ship-to-ship transfers, luxury goods entering
the country, foreign workers employed overseas in various
industries in an effort to generate export earnings and trade, the
increasing use of crypto currencies and cyber attacks to hinder the
fight against sanctions efforts and the monitoring of trade in
goods from various countries across the world.
Ship-to-ship (STS) transfers of coal and oil are still a
significant trade activity for the DPRK in order to raise revenue
and also for domestic consumption with the port of Nampo a
particular hotspot. These STS efforts are being conducted through
DPRK and foreign flagged vessels and in certain cases by vessels
originally bought for scrap purposes. In the UN report, IHS
Markit's role as the issuer of the IMO number for vessels and
originating source for the IMO Unique Company and Registered Owner
Identification Number Scheme is used with great effect to identify
vessels engaged in sanctions evasion for the DPRK. The IHS Markit
data is used to identify suspicious vessels, the historical and
current flag registry and most importantly identifying the complex
ownership structure that sits behind the vessel.
Furthermore, IHS Markit data has helped the United Nations
understand import and export patterns to the DPRK through the use
of its Global Trade Atlas
functionality and its detailing of recorded trade. A set of HS
Codes, described in previous UN resolutions, covering oil, coal,
machinery, iron and steel are identified as the key industry items
that the DPRK relies upon. The Global Trade Atlas has been
able to provide an insight into the volume, value and historical
trends of these traded items and commodities in terms of their
origination and entry into North Korea.
The detailed report by the United Nations Panel of Experts
offers unique insight into the DPRKs trading patterns and methods
and IHS Markit is proud to support the UN through the use of its
maritime and trade content as a means to identify and formulate new
sanctions policy.
The latest annual report from the DPRK sanctions team at the
United Nations can be viewed here.
Posted 24 April 2020 by Byron McKinney, Director - Product Management, Maritime & Trade, IHS Markit
