Treasury unveils new sanctions on Chinese, Russian entities in push to pressure North Korea

CNBC/Jacob Pramuk/08-22-17

The United States is targeting Chinese and Russian entities and individuals with new sanctions in its push to pressure North Korea to back off its nuclear ambitions.

The Treasury Department on Tuesday said it would target 10 entities and six individuals who help already sanctioned people who aid North Korea’s missile program or “deal in the North Korean energy trade.” The U.S. also aims to sanction people and groups that allow North Korean entities to access the U.S. financial system or helps its exportation of workers, according to the Treasury.

“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 Mnuchin said in a statement. “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.”

Share
This entry was posted in Geopolitical Risks. Bookmark the permalink.

Comments are closed.