Russia-North Korea Cooperation Sanctions Act

Summary

Imposes targeted sanctions and visa restrictions on foreign persons, foreign financial institutions (including foreign central banks), and facilitators who transfer, sell, or otherwise provide arms, goods, services, or technology from North Korea that are used or may be used by Russian forces or proxies in the war in Ukraine. Requires the President to report to Congress on significant North Korean activities supporting Russia and to identify sanctioned parties, describe their conduct, assess foreign government involvement, and lay out a U.S. counterstrategy.

• Requires sanctions and visa bans on foreign persons and financial institutions that facilitate transfers of arms or related material from North Korea to Russia or Russian proxies.
• Authorizes blocking of property under IEEPA and applies IEEPA penalties for violations of implementing regulations.
• Explicitly includes foreign financial institutions and foreign central banks among entities subject to sanctions if they knowingly facilitate significant transactions.
• Allows the President to issue national security waivers with at least 15 days' notice to Congress and preserves narrow humanitarian exceptions for recognized organizations.
• Amends the North Korea Sanctions and Policy Enhancement Act to add halting material support for Russia’s war as an explicit objective.
• Requires an initial report within 90 days and recurring reports every 180 days identifying sanctioned parties, describing conduct, assessing foreign government involvement, and outlining a U.S. counterstrategy.
• Relies on the statutory criminal definition of "material support" and existing Treasury regulatory definitions—does not create new criminal definitions or new spending.
• Targets logistics and supply-chain facilitators as well as transactions, increasing exposure for non-state actors and intermediaries involved in sanctions-evasion.