“A total ban on investment and on crude oil exports”
“Work permits for North Korean nationals will not be renewed either”
The European Union has adopted strong new independent sanctions on North Korea, covering a total ban on investment and a ban on crude oil exports. Federica Mogherini, the EU’s High Representative for Foreign Affairs and Security Policy, announced this at a press conference following a Foreign Affairs Council in Luxembourg attended by the foreign ministers of all 28 member states.
She added that the measures complement and strengthen the UN Security Council’s resolutions on North Korea, and that they take effect immediately.
The EU’s new sanctions begin with a blanket ban on investment in North Korea across every sector. Previously the EU had restricted investment only in specific industries — those related to nuclear and conventional weapons, mining, oil refining, chemicals, metals and aerospace. That limitation has now been removed and the ban extended to all sectors. Sales of crude oil and refined petroleum products to North Korea are also covered.