US sanctions foreign firms over North Korea trade

The Trump administration imposed sanctions yesterday on three foreign companies it says are helping North Korea with illicit shipments of goods to fund its nuclear programme.

The Treasury Department said it was taking action against the companies, which are based in China, Russia and Singapore, as well as the head of the Russian firm.

The move blocks any assets that they may have in US jurisdictions and bars Americans from doing business with them.

It comes as the US continues to press for full compliance with international sanctions against North Korea while it continues talks with the North on ending its nuclear programme.

“Treasury will continue to implement existing sanctions on North Korea, and will take action to block and designate companies, ports and vessels that facilitate illicit shipments and provide revenue streams to the DPRK,” Treasury Secretary Steven Mnuchin said.

“Consequences for violating these sanctions will remain in place until we have achieved the final, fully verified denuclearisation of North Korea.”

Those targeted yesterday are the China-based Dalian Sun Moon Star International Logistics Trading Co and its Singapore-based affiliate, SINSMS Ltd, along with Russia’s Profinet Ltd and its director-general.