In accordance with Section 6 of its Guidelines, the Committee established pursuant to resolution 1718 (2006) makes accessible a narrative summary of reasons for the listing for individuals, groups, undertakings and entities included in its sanctions list.
Bank of East Land was listed on 22 January 2013 “as being engaged in or providing support for, including through other illicit means, DPRK’s nuclear-related, other weapons of mass destruction-related and ballistic missile-related programmes.”
“DPRK financial institution Bank of East Land facilitates weapons-related transactions for, and other support to, arms manufacturer and exporter Green Pine Associated Corporation (Green Pine). Bank of East Land has actively worked with Green Pine to transfer funds in a manner that circumvents sanctions. In 2007 and 2008, Bank of East Land facilitated transactions involving Green Pine and Iranian financial institutions, including Bank Melli and Bank Sepah. The Security Council designated Bank Sepah in resolution 1747 (2007) for providing support to Iran’s ballistic missile program. Green Pine was designated by the Committee in April 2012.”