US imposes new sanctions on Chinese and Russian companies over North Korea's nuclear and missile programs
- Trump administration imposed sanctions on 16 mainly Chinese and Russian companies for assisting North Korea's nuclear and ballistic missile programs
- Penalties are intended to further isolate North Korea for its nuclear and missile tests amid heightened tensions that have led to threats from both sides
- According to Treasury Department, the 16 affected entities either do business work with the North Korean energy sector or help it place workers abroad
The Trump administration imposed sanctions on 16 mainly Chinese and Russian companies and people for assisting North Korea's nuclear and ballistic missile programs on Tuesday.
According to a statement from the Treasury Department, Kim the sanctions were also imposed on those helping the North make money to support their ballistic missile programs.
The penalties are intended to complement new UN Security Council sanctions and further isolate North Korea for its nuclear and missile tests amid heightened tensions that have led to threats from both sides.
The Trump administration imposed sanctions on 16 mainly Chinese and Russian companies and people for assisting North Korea's nuclear and ballistic missile programs on Tuesday
According to the Treasury Department, the 16 affected entities either do business with previously sanctioned companies and people, work with the North Korean energy sector, help it place workers abroad or facilitate its evasion of international financial curbs.
The measures block any assets they may have in US jurisdictions and bar Americans from transactions with them.
'It is unacceptable for individuals and companies in China, Russia, and elsewhere to enable North Korea to generate income used to develop weapons of mass destruction and destabilize the region,' Treasury Secretary Steven Mnuchin said.
'We are taking actions consistent with UN sanctions to show that there are consequences for defying sanctions and providing support to North Korea, and to deter this activity in the future,' Mnuchin added.
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Among those sanctioned are six Chinese companies, including three coal companies; two Singapore-based companies that sell oil to North Korea and three Russians that work with them.
China-based Dandong Rich Earth Trading Co was penalized for its support to previously sanctioned entities that act on behalf of North Korea's General Bureau of Atomic Energy, which is responsible for the North's nuclear program.
Dadong purchased vanadium ore from North Korea in violation of United Nations sanctions resolutions, the Treasury said.
Moscow-based Gefest-M LLC and its Russian director, Ruben Kirakosyan, were penalized for helping procure metals for Korea Tangun Trading Corporation, another previously sanctioned entity involved in the North's missile and weapons programs.
The penalties are intended to further isolate North Korea for its nuclear and missile tests amid heightened tensions that have led to threats from both sides.
Three Russian individuals and two Singapore-based companies that helped provide oil to North Korea were sanctioned. Pictured is Russian President Vladimir Putin
Three Chinese coal companies responsible for importing nearly half a billion dollars’ worth of North Korean coal between 2013 and 2016 were penalized by the US.
Those complanies include Dandong Zhicheng Metallic Materials Co, Ltd, JinHou International Holding Co, Ltd, and Dandong Tianfu Trade Co, Ltd.
All three helped North Korea generate funds that fuel its nuclear and ballistic missile programs, the Treasury said.
Three Russian individuals and two Singapore-based companies that helped provide oil to North Korea were sanctioned.
A construction company based in Namibia; a second Namibia-based company, and its North Korean director, that supplies North Korean workers to build statues overseas to generate income for the North.
According to the Treasury, a North Korean subsidiary of Mansudae Overseas Projects Group of Companies, which was previously sanctioned by the UN for exporting workers from North Korea to generate revenue for the government, was also penalized.
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