North Korean firm renaming ships to evade sanctions: UN
February 26 , 2015
A shipping firm from North Korea has been reflagging and renaming its vessels to dodge an arms embargo, according to a UN report.
Stringent sanctions have been imposed on North Korea on account of its nuclear program. Ocean Maritime Management (OMM) was included in the sanction regime after a ship of the North Korean company was caught importing arms from Cuba.
The UN report says OMM has renamed most of its ships and transferred the vessels’ ownership to shell firms.