U.S. removes sanctions on 84 targets in 'modernization' effort

The U.S. Treasury Department on Monday removed 84 targets, including a North Korean firm designated for supporting Pyongyang’s nuclear and missile programs, from its sanctions list as part of a “modernization” initiative to eliminate outdated targets.

The department’s Office of Foreign Assets Control (OFAC) announced the removal of the targets, explaining that they are no longer considered national security or foreign policy priorities as they are deceased individuals, defunct entities or targets sanctioned decades ago.

The removal list included the Korea Tangun Trading Corporation (KTTC), a North Korean entity sanctioned by both the U.S. government and the United Nations Security Council in 2009 for its involvement in backing the North’s weapons of mass destruction programs.

In its sanctions list update, OFAC clarified that the KTTC is also known as a series of companies, including Korea Kuwolsan Trading Corporation, the Second Academy of Natural Sciences Foreign Affairs Bureau and Korea Ryenhap 2 Trading Corporation.

In May, U.S. Treasury Secretary Scott Bessent announced the sanctions modernization effort and said that it is aimed at ensuring that U.S. sanctions remain “targeted, effective and aligned with U.S. economic, foreign policy and national security priorities.”

Yonhap