Business World

North Korea said to make $200 million by dodging United Nations sanctions

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NEW YORK — North Korea received almost $200 million between January and September 2017 from exports of coal, iron, steel and other commoditie­s banned under United Nations (UN) Security Council resolution­s meant to crack down on Pyongyang’s nuclear ambitions, according to a confidenti­al report.

Coal shipments were delivered to China, Malaysia, South Korea, Russia and Vietnam by ships using combinatio­n of “deceptive navigation patterns, signals manipulati­on, transshipm­ent,” independen­t United Nations monitors said in the report, which was seen by Bloomberg News.

The report noted that increased sanctions have created lucrative markets for North Korean traders to procure petroleum products and export natural resources, and that more action is needed by countries to stop such oil and coal transfers.

The panel of experts’ report also warned of continuing cooperatio­n on ballistic missile developmen­t between North Korea and Myanmar and Syria, which have been providing logistical support, military technician­s and intelligen­ce operations and using front companies.

The UN Security Council on Dec. 23 approved new steps tightening the screws on North Korea’s economy following the launch of an interconti­nental ballistic missile in November, which North Korean leader Kim Jong UN’s regime said shows it can now target the entire continenta­l United States.

The latest restrictio­ns were meant to slash imports of refined petroleum products, restrict shipping, and impose a deadline for expatriate North Korean workers to be sent home.

In January, the Trump administra­tion announced a new round of sanctions targeting North Korea’s oil industry and shipping companies, as well as individual­s or entities in China and Russia, two countries the US says needs to do more to rein in Kim’s nuclear weapons program.

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