The foreign Ministry has prepared a presidential decree on freeze of financial relations with the DPRK

The Ministry of foreign Affairs of Russia has prepared a draft presidential decree on the enforcement of UN security Council resolution of March 2, concerning sanctions against North Korea in connection with nuclear tests. The document published on the official portal disclosure of preparing normative legal acts.

In particular, the Agency proposes to “take the necessary action for closing on the territory of Russia subsidiaries, branches or representative offices of DPRK banks, joint ventures with banks in Korea, prohibition of equity participation in the ownership of banks in the DPRK, correspondent relationships with banks in Korea within 90 days from 2 March 2016”.

The decree also suggests that Russia will be frozen assets and economic resources that are directly or indirectly owned or under the control of the Korean authorities, or individuals and organizations that have to do with the nuclear program of Pyongyang or its ballistic missile programme.