United States Ratchets Up North Korean Sanctions while Continuing to Ease Cuban Sanctions

Recent developments in economic sanctions and export controls administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) provide for the incremental easing of sanctions in support of the President’s rapprochement with Cuba while responding to the growing threat from North Korea by imposing comprehensive sanctions.  Section I of the attached memorandum addresses recent actions taken by OFAC and BIS to expand access to Cuba.  Section II outlines the new restrictions on dealings with North Korea.