Search Results for “forfeit”

April 30, 2019

OFK Exclusive: Court orders three Chinese banks to comply with subpoenas for North Korea-related records

There is (or should be) a modern Chinese curse that goes something like this: “May the subpoenas fall like rain on your New York correspondents.” In December 2017, that curse afflicted three Chinese banks that now find themselves enmeshed in an expensive and legally perilous FBI investigation into the laundering of large amounts of Kim Jong-un’s lucre. With today’s unsealing of Chief Judge Beryl Howell’s opinion, ordering the banks to comply with the subpoenas, the story can be told. You...

Money Laundering/Sanctions/U.S. Law

April 23, 2019

The “experts” were wrong. The sanctions are working.

The fact that even the New York Times says so didn’t make it so; it just made it harder for people who trust the New York Times to deny it. But for those of us who’ve always put more stock in the Daily NK and Rimjin-gang, the evidence has been piling up for more than a year. Our chronology begins in March 2016, two months after North Korea’s fourth nuclear test and one month after Congress passed the North Korea Sanctions...

Sanctions

February 28, 2019

How to negotiate a lasting peace in Korea, feed the hungry, and heal the sick

Let’s say you still believe in a negotiated disarmament of North Korea, something to which I assign a ten percent probability at most. Or, let’s say you don’t. Suspend your disbelief and assume that aggressive sanctions enforcement—the enforcement Kim Jong-un tricked Trump into calling off nearly a year ago—becomes a sufficient threat to the solvency and cohesion of Kim Jong-un’s regime that he comes back to the table next year, offers to submit a complete declaration of his WMD programs...

Class Warfare/Democracy/Diplomacy/Sanctions/U.S. Law

December 10, 2018

Rape, revenge, sanctions & North Korea’s hated Ministry of Love

FIVE HUNDRED YEARS AGO, Machiavelli mulled the question of whether a tyrant should seek to be feared or loved. The Ministry of State Security or MSS is North Korea’s analog to Orwell’s Ministry of Love,1 but in reality, it is Kim Jong-un’s most feared and hated enforcer. It targets “spies, subversive elements, and political criminals” — the people the state fears most. It runs North Korea’s most horrific prison camps, of which one North Korean woman interviewed secretly by the BBC said, “It is...

Human Rights/Resistance/Sanctions

November 19, 2018

How engaging the wrong North Koreans set back openness, reform & peace

South Korea’s social-nationalist government, joined by too many Western academics of the sort who bask in its generosity and fear the withdrawal of it, has re-embraced the “Sunshine” hypothesis. This hypothesis equates nearly all economic “engagement” with North Korea’s military-industrial complex — also known as “the Democratic People’s Republic of Korea” — with economic openness, and economic openness with political openness, disarmament, prosperity, and peace. The Western exemplar of no-questions-asked engagement is the NGO and media darling known as Choson...

North-South/Sunshine

November 13, 2018

North Korea’s mining industry is collapsing, and steel may be next

OVER THE LAST YEAR, THE BRAVE COVERT CORRESPONDENTS of the Daily NK and Rimjin-gang have reported from inside North Korea on the effects of sanctions on North Korean industry. It’s now clear that those effects have been severe. That’s good news, because North Korea’s mining and steel industries are closely linked to its military and its WMD programs. It’s also terrible news, because a lot of people who depended on those industries are now living through some very hard times....

NK Economics/Sanctions

November 1, 2018

Moon Jae-in chases Kim Jong-un while South Korea’s economy burns

Just over a year ago, Bloomberg Opinion published an op-ed under the title, “Can South Korea Save Liberalism?” It purred that Moon Jae-in was “charting an entirely contrary course in economic policy than much of the rest of the developed world” that was “unapologetically … dependent on the kind of taxing and spending conservatives loathe.” “If successful,” it hypothesized, “the experiment could alter how governments tackle the most challenging problems of our day.” As recently as June, The Diplomat published...

South Korea

October 29, 2018

DOJ indicts Singaporean businessman for conspiring to violate North Korea sanctions

The U.S. Attorney’s office for the Southern District of New York has indicted Singaporean national Tan Wee Beng for laundering money on behalf of two sanctioned North Korean banks—Daedong Credit Bank of Panama Papers infamy, and Korea Kwangson Banking Corporation of Dandong Hongxiang infamy. Both banks have been designated and blocked for years under Executive Order 13382, for proliferation financing. Both banks are also designated by the U.N. Security Council. You can read the indictment here and the Justice Department’s...

Money Laundering/U.S. Law

October 17, 2018

Moon Jae-in’s unilateral sanctions violations are decoupling South Korea’s alliance with the U.S. (updated)

A FEW JOURNALISTS HAVE (if belated and partially) figured out that Moon Jae-in’s promises to Kim Jong-un would violate a series of U.N. Security Council sanctions. The latest example of this is Moon’s promise to start rebuilding a railroad connection to Kaesong and points north before the year ends. Let’s go to the resolutions to see what provisions this most clearly offends, starting with UNSCR 2321 … “32. Decides that all Member States shall prohibit public and private financial support...

An Alliance?/Sanctions

August 29, 2018

The U.S.-Korea alliance is “in jeopardy” & it’s not even (mostly) Trump’s fault

MAKING THE ROUNDS IN WASHINGTON THIS WEEK IS THIS MUST-READ REPORT, in Tokyo Business Today, by Stanford Professor Daniel Sneider: “Behind The Chaos Of Washington’s Korea Policy.” The report is based on Sneider’s discussions with insiders familiar with the administration’s North Korea negotiations and policymaking, and yes, you should be worried: [T]he spoken, and unspoken, aim of most professionals implementing North Korea policy is to hold off President Trump from meeting North Korean leader Kim Jong Un again. They worry...

An Alliance?/Sanctions/Washington Views

August 7, 2018

South Korea implicated in large-scale violations of U.N. coal, shipping sanctions against North Korea

This week, a scandal is burgeoning in South Korea that a wholly owned subsidiary of the nation’s largest power company purchased large quantities of North Korean coal in violation of the coal export ban of UNSCR 2371. The other day, I tweeted about a Korean-language report in the right-leaning site Pennmike, indicating that a Belize-flagged ship carrying North Korean coal was spotted in the port of Pyeongtaek. We’ve since learned that this violation was part of a broader, long-standing, illicit...

Shipping sanctions

April 25, 2018

Steve Mnuchin is defying Congress & undermining the President’s North Korea policy

WHO, EXACTLY, DOES STEVE MNUCHIN THINK HE WORKS FOR—Donald Trump or Xi Jinping? We are just weeks away from a scheduled meeting between the President who appointed Mnuchin and the dictator of North Korea. That meeting may decide whether it’s still possible to disarm the North through diplomacy instead of a war that could easily go nuclear. Unlike every other U.S. president since there has been a North Korea, President Trump grasps that the prerequisite to a successful negotiation is...

Money Laundering/Sanctions/U.S. Law

April 3, 2018

How to build a big, beautiful (financial) wall around North Korea & make Kim Jong-un pay for it.

HERE IN WASHINGTON, THE BLOB IS ALL ATWITTER over a possible summit between Donald Trump and Kim Jong-un. Those who see no solution to this crisis but the next piece of paper took the news with the same mixture of euphoria and dread as a man who waits four hours in the emergency room in throbbing agony, only to hear, “Doctor Oz will see you now.” But in reality, a Trump-Kim summit is no more than 40 percent likely to...

Money Laundering/Sanctions

February 28, 2018

You want maximum pressure? Oh, I’ll show you maximum pressure.

SINCE LAST WEEK, WHEN THE TREASURY DEPARTMENT announced 56 designations of ships, shipping companies, and trading companies, reporters have been emailing me to ask whether this is finally the “maximum pressure” the Trump administration has been talking about. The short answer is “no.” In terms of length alone, yes, this was the largest set of North Korea designations ever, although we should discount for the fact that most of the 28 ships were effectively designated twice (once per ship, and...

Money Laundering/Sanctions/Shipping sanctions

February 14, 2018

The media fawning over North Korea’s Censor-in-Chief is indefensible, yet they still defend it.

A MEDIA CRITICISM OF DONALD TRUMP that weighs more heavily than their predictable policy and tribal differences with him is that his tepid repudiation of racists like David Duke and Richard Spencer “normalized” some of America’s most deplorable people. It’s going to be much harder for the Washington Post to make that charge stick after its reporters fawned over one of Earth’s most deplorable people — the Censor-in-Chief of a racist, homophobic, misogynistic regime that stands credibly accused by the...

Censorship/Human Rights/Sports

February 2, 2018

Dandong Delenda Est: A little-noticed law may soon raise the pressure on China over N. Korea’s smuggling

IF OUR CHOICES FOR ADDRESSING THE KOREAN MISSILE CRISIS come down to (a) a trade war with China, or (b) a nuclear war with North Korea, which option is worse? If you still believe that begging Kim Jong-un for another piece of paper he doesn’t want and wouldn’t keep is the answer, no amount of evidence will convince you. To accept Pyongyang’s nuclear status in the mistaken belief that conventional means can deter Kim Jong-un’s campaign to gradually blackmail, censor,...

Sanctions/Shipping sanctions

December 4, 2017

Korean War II: What the Joint Statements tell us about Pyongyang’s strategy

“To see what is in front of one’s nose needs a constant struggle.” – George Orwell On June 15, 2000, Kim Dae-jung and Kim Jong-il signed a joint statement agreeing to seek “independent” reunification and an inter-Korean coalition government. It was not the first joint statement between North and South. This relatively modest one from 1972 calls for “both parties [to] promote national unity as a united people over any differences of our ideological and political systems.” In retrospect, this...

Diplomacy/Korean War II

December 1, 2017

Cash & credit squeeze hits China-North Korea trade

One of the more maddening tropes I see in reporters’ coverage is a question that’s usually presented as dispositive to the success of sanctions: “Will China cooperate?” For reasons I’ve already explained and don’t have time to repeat today, I always answer that question by asking what the questioner means by “China.” The point being: yes, it would be nice if Xi Jinping finally came around to the rising risk that Kim Jong-un will bring war, instability, disrepute, and bankruptcy...

China & Korea/Money Laundering/Sanctions

Search Results for: forfeit