Article 1

Regulation (EC) No 329/2007 is amended as follows:

1. (1)

   Article 8a is replaced by the following:

   ‘Article 8a

   The prohibitions in Article 6(1) and (4) shall not apply with regard to funds and economic resources belonging or made available to the Foreign Trade Bank or the Korean National Insurance Company (KNIC) insofar as such funds and economic resources are meant exclusively for the official purposes of a diplomatic or consular mission in North Korea, or for humanitarian assistance activities which are undertaken by, or in coordination with, the United Nations.’;

2. (2)

   Article 11c is replaced by the following:

   ‘Article 11c

   By way of derogation from the prohibitions arising from UN Security Council Resolutions 1718 (2006), 1874 (2009), 2087 (2013), 2094 (2013), 2070 (2016), 2321 (2016), 2356 (2017) and 2371 (2017), the relevant competent authority of a Member State, as identified on the websites listed in Annex II, may authorise any activities if the Sanctions Committee has determined, on a case-by-case basis, that they are necessary to facilitate the work of international and non-governmental organisations carrying out assistance and relief activities in North Korea for the benefit of the civilian population in North Korea, pursuant to paragraph 46 of UN Security Council Resolution 2321 (2016).’;

3. (3)

   Annex V to Regulation (EC) No 329/2009 is amended as set out in the Annex to this Regulation.