Foreign Assets Control Office February 2, 2007 – Federal Register Recent Federal Regulation Documents

The Office of Foreign Assets Control of the U.S. Department of the Treasury is amending the Foreign Assets Control Regulations, 31 CFR part 500, by revising paragraph (b)(5) of Sec. 500.586 to prohibit U.S. persons from registering vessels in the Democratic People's Republic of Korea (``North Korea''), or from otherwise obtaining authorization for a vessel to fly the North Korean flag. This paragraph already prohibits U.S. persons from owning, leasing, operating, or insuring any North Korean-flagged vessel.