OFAC prohibits U.S. persons from registering vessels in North Korea

OFAC prohibits U.S. persons from registering vessels in North Korea The U.S. Treasury Department's Office of Foreign Assets Control has amended its rules to prohibit U.S. persons from registering vessels in North Korea, or otherwise obtaining authority to fly the North Korean flag.
   The action follows an OFAC rulemaking on May 8, 2006, which prohibits U.S. persons from owning, leasing, operating or insuring any vessel flagged by North Korea.