US Expanded Sanctions against North Korea
OREANDA-NEWS. The United States has expanded sanctions against North Korea. The US Treasury has introduced restrictions against two companies from Pyongyang and Beijing.
“The Government of North Korea continues to use the illicit exportation of North Korean labor to generate income overseas in contravention of United Nations (UN) sanctions,” the statement published by the department on its website says. It is noted that restrictions are necessary to suppress such actions.Sanctions were imposed against the North Korean company Namgang Trading Corporation for participating in the export of labor. Measures have also been taken against Beijing Sukbakso, based in China, for cooperation with Namgang. According to the US Treasury, Beijing Sukbakso serves at least part of Namgang employees working abroad. The transactions of these entities and property located in the United States must be blocked. Any foreign institution that provides financial services to these companies may be subject to secondary sanctions.