Sanctions and AML Update

North Korea and Venezuela

SEETHA RAMACHANDRAN, BETTY SANTANGELO, GARY STEIN, JENNIFER M. OPHEIM and NICOLE GEOGLIS, SCHULTE ROTH & ZABEL

On September 20, 2017, in response to North Korea’s recent military actions and public statements made by North Korean leader Kim Jong-un, President Trump issued Executive Order 13810 (“E.O. 13810”), which authorizes the US Secretary of the Treasury to impose sanctions against persons, including foreign financial institutions, that knowingly engage in transactions and activity involving North Korea.1 As Secretary Mnuchin stated in his remarks...

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