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US imposes sanctions on 3 companies, 2 individuals for ‘illicitly’ generating income for North Korea

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First published at 22:51 UTC on March 1st, 2023.

#north
#korea
#sanctions

BC_Begley

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US imposes sanctions on three companies and two individuals for ‘illicitly’ generating income for North Korea

The US Treasury Department on Wednesday imposed sanctions on three companies and two individuals for “illicitly” generating income for the…

US imposes sanctions on three companies and two individuals for ‘illicitly’ generating income for North Korea

The US Treasury Department on Wednesday imposed sanctions on three companies and two individuals for “illicitly” generating income for the North Korean government.

The sanctions come after months of internationally condemned missile launches by Pyongyang – the most recent of which took place last month.

North Korea’s “unlawful weapons of mass destruction and ballistic missile programs threaten international security and regional stability,” Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said in a statement. “The United States remains committed to targeting the regime’s global illicit networks that generate revenue for these destabilizing activities.”

According to a news release from the Treasury, the agency sanctioned Chilsong Trading Corporation and Korea Paekho Trading Corporation “for being agencies, instrumentalities, or controlled entities of the Government of North Korea or the Workers’ Party of Korea.”

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