Tags: North Korea | Russia | sanctions | north korea | russia | china | steven mnuchin

US Sanctions Russians, Chinese With Business Ties to North Korea

US Sanctions Russians, Chinese With Business Ties to North Korea
Treasury Secretary Steven T. Mnuchin (AP Images)

By    |   Wednesday, 23 August 2017 10:55 AM

President Donald Trump's administration on Tuesday placed sanctions on various Russian and Chinese companies and individuals that have conducted business with North Korea.

The Treasury Department's Office of Foreign Assets Control issued a statement announcing that 10 companies and six individuals will be hit with economic sanctions designed to put increased strain on North Korea and to hinder funding of its nuclear weapons program.

"Treasury will continue to increase pressure on North Korea by targeting those who support the advancement of nuclear and ballistic missile programs, and isolating them from the American financial system," Treasury Secretary Steven T. Mnuchin said in his department's press release.

"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. 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."

The Justice Department filed two legal complaints seeking $11 million from two companies, one based in China and one based in Singapore, for allegedly laundering money for North Korea, The Washington Post reports.

U.S. Attorney Channing D. Phillips told Bloomberg that "These complaints show our determination to stop North Korean sanctioned banks and their foreign financial facilitators from aiding North Korea in illegally accessing the United States financial system to obtain goods and services in the global market place."

He added, "According to the complaints, these front companies are supporting sanctioned North Korean entities, including North Korean military and North Korean weapons programs."

© 2018 Newsmax. All rights reserved.

   
1Like our page
2Share
Newsfront
President Donald Trump's administration on Tuesday placed sanctions on various Russian and Chinese companies and individuals that have conducted business with North Korea.
sanctions, north korea, russia, china, steven mnuchin
271
2017-55-23
Wednesday, 23 August 2017 10:55 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved