PRESIDENT LIFTS TWEA (TRADING WITH THE ENEMY ACT) SANCTIONS ON NORTH KOREA

On June 26, 2008 the President issued Proclamation 8271 lifting the application of the Trading with the Enemy Act (TWEA) sanction with respect to the Democratic People’s Republic of Korea (North Korea). In addition, President Bush notified Congress of his intent to rescind North Korea’s designation as a State Sponsor of Terrorism (SST).

Other sanctions remain in place due to nuclear proliferation activities, and human rights violations such as blocked property and interests of North Korea or North Korean nationals. Any transaction by a U.S. person or within the U.S. that evades or avoids or attempts to violate this Executive Order is strictly prohibited.