Treasury sanctions Russians, Chinese for aiding N. Korea missile program

By Ed Adamczyk Contact the Author   |   Aug. 22, 2017 at 11:37 AM
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Aug. 22 (UPI) -- The U.S. Treasury Department announced new sanctions Tuesday against 10 Russian and Chinese entities, and six individuals it says are helping North Korea's government with its missile ambitions.

The Treasury's Office of Foreign Assets Control named sanctions against China-based Dandong Rich Earth Trading Co., Gefest-M and Mingzheng International Trading -- noting in a statement that each company has provided financial services and delivery of material for use in building nuclear and ballistic missiles.

Each provides third-party support to companies already on the United States' list of sanctioned entities.

OFAC said those sanctioned violated United Nations Security Council Resolutions and attempted to evade existing U.S. penalties.

"[The] sanctions target third-country companies and individuals that assist already-designated persons who support North Korea's nuclear and ballistic missile programs, deal in the North Korean energy trade, facilitate its exportation of workers, and enable sanctioned North Korean entities to access the U.S. and international financial systems," OFAC said in a news release.

Other businesses and individuals named Tuesday are involved in the energy industry -- including North Korea's imports of coal and oil, as well as labor exports, the statement said. It added that the Treasury Department's actions are complimentary to an Aug. 5 resolution by the U.N. Security Council that holds Pyongyang responsible for its continued testing of missiles and other weapons of mass destruction.

The list of those sanctions includes Chinese and Russian businesses and individuals. Any property of the designated persons in the possession of U.S. citizens or inside the country will be blocked, and those in the United States are generally prohibited from dealing with them.

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