US imposes new sanctions on N. Korea over missiles program
2 Min Read
The US sanctions two Russian banks for allegedly doing business on behalf of North Korean entities, as well as a trading company and a Belarus-based North Korean man.
-
The US Department of the Treasury
The US Department of the Treasury targeted Friday two Russian banks as part of new sanctions over their alleged support for North Korea and its nuclear and ballistic missile programs.
The sanctions come after Pyongyang launched on Tuesday three new ballistic missiles, including one intercontinental ballistic missile.
North Korea's new ballistic missile launches came after US President Joe Biden ended his Asian trip in which he affirmed his administration's commitment to defending allies against Pyongyang.
Washington said Pyongyang's new ballistic missile launches this week increased its total to 23.
The sanctions imposed Friday target two Russian banks; Far Eastern and Sputnik, which do business on behalf of North Korean entities, as per US claims.
The US Department of the Treasury claimed the Far Eastern Bank has "materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of U.S.-designated Air Koryo, the national airline of the DPRK."
While Bank Sputnik "attempted to provide, financial, material, technological, or other support for, or goods or services in support of, the DPRK Foreign Trade Bank (FTB)," the US Treasury claimed.
The sanctions also targeted a trading company and a Belarus-based North Korean man for allegedly generating funding for North Korea's missile launches.
It is noteworthy that China and Russia rejected on Thursday a UN resolution backed by the US that would have placed harsh new penalties on North Korea for its recent intercontinental ballistic missile launches.
