US Imposes Fresh New Sanctions on North Korea

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The United States has adopted new sanctions against North Korean companies, individuals and ships as well as two Chinese trading companies in response to the Pyongyang nuclear program, the Treasury said in a statement on Wednesday.

“The US government is targeting illicit actors in China, Russia, and elsewhere who are working on behalf of North Korean financial networks, and calling for their expulsion from the territories where they reside,” said Steven Mnuchin, the Secretary of the Treasury.

He added that the sanctions, retaliatory against the Pyongyang nuclear program, also affected “oil, maritime and commercial companies that continue to provide a lifeline to North Korea to fuel the nuclear ambitions and the destabilizing activities of Pyongyang.”

The sanctions, which freeze the assets of entities and individuals blacklisted and forbid any American to trade with them, affect nine companies, including two Chinese export companies.

Beijing-based Chengxing Trading Co and Dandong Jinxiang Trade Co are accused of delivering $68 million worth of goods to North Korea, including tons of high-grade metals, and importing $19 million worth between 2013 and 2017.

Sixteen individuals, mainly North Koreans but some established in China and Russia, are also blacklisted as well as several North Korean shipping companies and six boats.

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Among the sanctioned nationals are seven representatives of the North Korean government conglomerate Ryonbong in several Chinese cities. Four other financial chiefs, based in Shenyang, China for Daesong Bank, are also blacklisted.

A Pyongyang vice-consul in the Russian port of Nakhodka and two representatives of the Ryonbong industrial group based in Vladivostok, Russia and Abkhazia are also subject to sanctions as well as the North Korean Ministry of Petroleum.

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Abbad Farid

Abbad holds a degree in Journalism from the University of Cumbria and covers mostly world news for The Talking Democrat