N. Korea Sanctions: U.S. designates Singapore marine fuel company

On August 29, 2018, a federal arrest warrant was issued for Tan Wee Beng in the United States District Court, Southern District of New York On August 29, 2018, a federal arrest warrant was issued for Tan Wee Beng in the United States District Court, Southern District of New York

OCTOBER 26, 2018 — The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) yesterday announced North Korea-related designations of two Singapore based entities and one individual, while the U.S. Department of Justice unsealed criminal charges against the same individual, Tan Wee Beng.

Although the main focus of the designations and charges relate to money laundering, one of the designated entities is Wee Tiong (S) Pte Ltd, a Singapore-based commodities trading company, of which Tan Wee Beng is a director and significant shareholder, while the other is WT Marine Pte Ltd, a marine fuels company closely related to Wee Tiong (S) Pte Ltd, and of which Tan Wee Beng is the Managing Director.

According to OFAC, last year, two vessels operated and managed by WT Marine Pte Ltd, the JW Jewel (IMO: 9402964) and Nymex Star (IMO: 9078191), engaged in illicit economic activity that involves or supports the Government of North Korea.

As a result of yesterday's action, says OFAC "any property or interests in property of the designated persons, including the two vessels, in the possession or control of U.S. persons or within the United States is blocked, and U.S. persons generally are prohibited from dealing with the designated persons."

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