Sanctions against North Korea

Published On: August 27, 2017 12:20 AM NPT

Washington has slapped new sanctions on Chinese and Russian entities for allegedly supporting North Korea’s nuclear and missile programmes and attempting to evade previous U.S. sanctions.
U.S. prosecutors are also seeking to recover US$11 million from companies based in China and Singapore that they accuse of conspiring with North Korea to evade sanctions.

The Treasury Department also named three Chinese companies that had collectively imported nearly a half billion dollars’ worth of North Korean coal between 2013 and 2016.

The department sanctioned Dandong Zhicheng’s director Chi Yupeng, a Chinese national accused of moving cash for North Korean interests. The Justice Department is seeking seizure of $4 million in funds allegedly laundered by Chi Yupeng for North Korea’s ruling party.

Also, the U.S. is seeking $7 million from Singapore-based Velmur Management for helping North Korea buy fuel from Russia-based JSC Independent Petroleum Company.


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