Israel approves measures restricting trade with North Korea

The Knesset updated its directives regarding sanctions on North Korea, in accordance with UNSC resolutions.

By: World Israel News Staff

On Sunday, the Knesset’s Economic Affairs Committee approved orders related to supervision of and limits on trade with North Korea, also known as the Democratic People’s Republic of Korea (DPRK).

The orders were issued by the Ministry of Economy. About two and a half years ago, the committee approved a directive which bans the export of luxury goods to North Korea, in accordance with resolutions adopted by the United Nations Security Council (UNSC).

As part of the effort to press the Asian dictatorship to relinquish its nuclear weapons and ballistic missile programs, the UNSC has recently passed additional resolutions which introduced a limit of 4 million barrels, or 525,000 tons, in the aggregate amount per a twelve-month period allowed for the supply, sale or transfer of crude oil by Member States to the DPRK; banned nearly 90 percent of refined petroleum product exports to North Korea by capping them at 500,000 barrels a year; expanded sanctions by introducing a ban on DPRK’s export of food and agricultural products, machinery, electrical equipment, earth and stone including magnesite and magnesia, wood and vessels; prohibited the DPRK from selling or transferring fishing rights; introduced a ban on the supply, sale or transfer to the DPRK of all industrial machinery, transportation vehicles, iron, steel and other metals; and prohibited the export by the DPRK of coal, iron, iron ore, lead, lead ore and seafood.

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Following these UNSC resolutions, the Ministry of Economy asked to amend and update Israel’s trade directive. The ministry’s legal adviser on exports and imports told the Economic Affairs Committee that the new directives reflect the UN resolutions, to the letter.

David Huri, head of the Tax Authority’s Exports Department, said, “Not one grain has been exported from Israel to North Korea, despite the fact that the directive permits exporting, subject to licensing and additional restrictions.”