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New U.S. sanctions against North Korea POST Online Media

New U.S. sanctions against North Korea

Staff Writer | Saturday August 4, 2018 6:53AM ET
Agrosoyuz Commercial Bank
America   The Treasury announced sanctions against Agrosoyuz Commercial Bank

The Treasury Department stressed Friday it would continue to enforce existing UN and U.S. sanctions on North Korea.

The Treasury subsequently announced sanctions against Russia's Agrosoyuz Commercial Bank for knowingly facilitating a significant transaction on behalf of Han Jang Su, a North Korean designated for weapons of mass destruction-related activities.

Han is the Moscow-based chief representative of Foreign Trade Bank, North Korea's primary foreign exchange bank, the Treasury said.

"The United States will continue to enforce UN and U.S. sanctions and shut down illicit revenue streams to North Korea," said Treasury Secretary Steven Mnuchin.

He added, "Our sanctions will remain in place until we have achieved the final, fully-verified denuclearization of North Korea."

In addition to Agrosoyuz, the Treasury designated Ri Jong Won, the Moscow-based deputy representative of FTB, as well as two associated FTB front companies Dandong Zhongsheng Industry & Trade Co., Ltd. and Korea Ungum Corporation.


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