U. S. sanctions Chinese, N. Korean companies
WASHINGTON — The Trump administration imposed new sanctions on a slew of North Korean shipping firms and Chinese trading companies Tuesday in its latest push to isolate the rogue nation over its nuclear weapons development and deprive it of revenue.
The U. S. Treasury Department also designated a North Korean corporation involved in exporting workers overseas. The action came a day after the U. S. returned North Korea to its list of state sponsors of terrorism.
“These designations include companies that have engaged in trade with North Korea cumulatively worth hundreds of millions of dollars,” Treasury Secretary Steven Mnuchin said in a statement. “We are also sanctioning the shipping and transportation companies, and their vessels, that facilitate North Korea’s trade and its deceptive manoeuvres.”
Among the companies targeted were four Chinese- based companies and one Chinese individual said to have deep commercial ties with North Korea. The sanctions bars those sanctioned from holding U. S. assets or doing business with Americans.
The Dandong Kehua Economy & Trade Co., Ltd., Dandong Xianghe Trading Co., Ltd., and Dandong Hongda Trade Co. Ltd. are alleged to have exported about $ 650 million worth of goods to North Korea and imported more than $ 100 million from North Korea since 2013. The goods included computers, anthracite coal, iron and other commodities and ferrous products.
Also sanctioned was Chinese national Sun Sidong and his company, Dandong Dongyuan Industrial Co., said to have exported more than $ 28 million worth of goods to the North.
The targeting of Chinese companies is a potential sore point with Beijing, whose help Trump is counting on to put an economic squeeze on Pyongyang.
As part of its effort to stymie North Korean transportation networks, Treasury sanctioned North Korea’s Maritime Administration and its transport ministry, six North Korean shipping and trading companies and 20 of their vessels, which are all North Korean- flagged.
It accused North Korea of deceptive shipping practices, including ship- to- ship transfers, which is prohibited under UN sanctions that have been imposed in response to Pyongyang’s rapid tempo of nuclear and ballistic missile tests.