U.S. Lifts Sanctions on South Korean Company Over 'Syria WMD Deal' Early... 2 Years → 7 Months

【Financial News New York = Correspondent Lee Byeong-cheolThe U.S. government has prematurely ended sanctions against a South Korean company after just over seven months on charges of illegally trading technology and goods related to the development of weapons of mass destruction (WMD) and missiles with Syria. This decision is drawing attention as it comes amidst the recent successive lifting of sanctions against Syria by the Donald Trump administration and the withdrawal of its designation as a state sponsor of terrorism.
According to the U.S. Federal Register on the 6th (local time), the State Department has decided to end non-proliferation sanctions imposed on the South Korean company JS Research Inc. and its successor companies, sub-organizations, or subsidiaries. The State Department made this decision on the 27th of last month, and the details will be officially published in the Federal Register on the 8th.
JS Research was placed on the U.S. government's sanctions list on January 22 for violating the Iran, North Korea, and Syria Nonproliferation Act (INKSNA). At the time, it was included in the sanctions list along with North Korean national Choe Chol-min, the Foreign Affairs Bureau of North Korea's Second Academy of Natural Sciences (SANS FAB), China's Futech, Lebanon's EXPTRANS, and the United Arab Emirates (UAE)'s International Biotechnology Services.
The INKSNA is a law that allows for sanctions against foreign companies and individuals that transfer or acquire goods, services, or technology that could contribute to the development of weapons of mass destruction (WMD) or missiles in Iran, North Korea, and Syria. It originated as the Iran Non-Proliferation Act in 2000 and has since been expanded to include Syria and North Korea.
If placed on the sanctions list, U.S. government agencies face restrictions, such as being prohibited from procuring goods, technology, or services from the company in question or entering into related contracts.
A notable point is that the sanctions ended earlier than expected. While sanctions under INKSNA are typically applied for two years, the measures against JS Research ended approximately seven months after they began on January 22. The State Department did not separately state the reason for the early termination in the Federal Register.
This decision was made as the Trump administration has recently been rapidly lifting sanctions on Syria.
Following the termination of its comprehensive sanctions program against Syria last year, the United States officially removed Syria from the list of State Sponsors of Terror (SST) on the 24th of last month. Syria had been on the U.S. list of state sponsors of terror for nearly 47 years, since 1979.
The Trump administration plans to lift various restrictions on Syria to support the new administration's economic reconstruction and return to international financial markets. The U.S. government believes that removing Syria from the list of state sponsors of terrorism will eliminate major barriers that have been blocking private investment in the country.
Accordingly, the possibility is being raised that the exceptional early lifting of sanctions on JS Research is also a measure linked to the shift in U.S. policy toward Syria. However, the State Department did not disclose whether this decision is directly related to the easing of sanctions against Syria.


[email protected] Correspondent Lee Byeong-cheol Reporter