North Korea Sanctions Enforcement Act of 2014

Short title— This Act may be cited as the “North Korea Sanctions Enforcement Act of 2014”.

Table of contents— The table of contents for this Act is as follows:

The Government of North Korea has repeatedly violated its commitments to the complete, verifiable, irreversible dismantlement of its nuclear weapons programs, and has willfully violated multiple United Nations Security Council resolutions calling for it to cease its development, testing, and production of weapons of mass destruction.

North Korea poses a grave risk for the proliferation of nuclear weapons and other weapons of mass destruction.

The Government of North Korea has been implicated repeatedly in money laundering and illicit activities, including prohibited arms sales, narcotics trafficking, the counterfeiting of United States currency, and the counterfeiting of intellectual property of United States persons.

The Government of North Korea has, both historically and recently, repeatedly sponsored acts of international terrorism, including attempts to assassinate defectors and human rights activists, repeated threats of violence against foreign persons, leaders, newspapers, and cities, and the shipment of weapons to terrorists.

North Korea has unilaterally withdrawn from the 1953 Armistice Agreement that ended the Korean War, and committed provocations against South Korea in 2010 by sinking the warship Cheonan and killing 46 of her crew, and by shelling Yeonpyeong Island, killing four South Koreans.

North Korea maintains a system of brutal political prison camps that contain as many as 120,000 men, women, and children, who live in atrocious living conditions with insufficient food, clothing, and medical care, and under constant fear of torture or arbitrary execution.

The Congress reaffirms the purposes of the North Korean Human Rights Act of 2004 contained in section 4 of such Act (22 U.S.C. 7802).

North Korea has prioritized weapons programs and the procurement of luxury goods, in defiance of United Nations Security Council resolutions, and in gross disregard of the needs of its people.

Persons, including financial institutions, who engage in transactions with, or provide financial services to, the Government of North Korea and its financial institutions without establishing sufficient financial safeguards against North Korea’s use of these transactions to promote proliferation, weapons trafficking, human rights violations, illicit activity, and the purchase of luxury goods, aid and abet North Korea’s misuse of the international financial system, and also violate the intent of relevant United Nations Security Council resolutions.

The Government of North Korea’s conduct poses an imminent threat to the security of the United States and its allies, to the global economy, to the safety of members of the United States armed forces, to the integrity of the global financial system, to the integrity of global nonproliferation programs, and to the people of North Korea.

The Congress seeks, through this legislation, to use nonmilitary means to address this crisis, to provide diplomatic leverage to negotiate necessary changes in North Korea’s conduct, and to ease the suffering of the people of North Korea.

Applicable Executive order— The term “applicable Executive order” means—

Applicable United Nations Security Council resolution— The term “applicable United Nations Security Council resolution” means—

Appropriate congressional committees— The term appropriate congressional committees means—

Designated person— The term designated person means a person designated under subsection (a) or (b) of section 104 for purposes of applying one or more of the sanctions described in title I or II of this Act with respect to the person.

Government of North Korea— The term Government of North Korea means—

International terrorism— The term international terrorism has the meaning given such term in section 140(d) of the Foreign Relations Authorization Act, Fiscal Years 1988 and 1989 (22 U.S.C. 2656f(d)).

Luxury goods— The term luxury goods has the meaning given such term in subpart 746.4 of title 15, Code of Federal Regulations, and includes the items listed in Supplement No. 1 to such regulation, and any similar items.

Monetary instrument— The term monetary instrument has the meaning given such term under section 5312 of title 31, United States Code.

North Korean financial institution— The term North Korean financial institution means—

Other stores of value— The term “other stores of value” means—

Person— The term person means—