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Council Regulation (EU) 2017/1509 of 30 August 2017 concerning restrictive measures against the Democratic People's Republic of Korea and repealing Regulation (EC) No 329/2007 article 26 CELEX: 02017R1509-20241216 In accordance with the requirements of UNSCR 2270 (2016), credit and financial institutions shall, on 31 May 2016 at the latest: (a) close any account with a credit or financial institution referred to in Article 21(2); (b) terminate any correspondent banking relationship with a credit or financial institution referred to in Article 21(2); (c) close representative offices, branches, and subsidiaries in the DPRK; (d) terminate joint ventures with a credit or financial institution referred to in Article 21(2); and
(e) relinquish any ownership interest in a credit or financial institution referred to in Article 21(2). |