World: Treasury targets two Chinese shipping firms under North Korea sanctions - PressFrom - US
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WorldTreasury targets two Chinese shipping firms under North Korea sanctions

21:50  21 march  2019
21:50  21 march  2019 Source:   thehill.com

Two U.S. senators complain of slowing sanctions on North Korea

Two U.S. senators complain of slowing sanctions on North Korea Two U.S. senators complain of slowing sanctions on North Korea

Treasury targets two Chinese shipping firms under North Korea sanctions© Getty Images Treasury targets two Chinese shipping firms under North Korea sanctions The Treasury Department on Thursday targeted two Chinese shipping companies that allegedly helped North Korea evade international trade sanctions.

Treasury's Office of Foreign Assets Control penalized Dalian Haibo International Freight Co. Ltd. and Liaoning Danxing International Forwarding Co. Ltd. under international sanctions banning trade with North Korea.

The two shipping companies are now banned from the U.S. financial system and can no longer access any U.S.-based assets. Individuals and firms that do business with the companies could also face U.S. penalties.

Trump says he is withdrawing earlier North Korea-related sanctions

Trump says he is withdrawing earlier North Korea-related sanctions U.S. President Donald Trump on Friday said he was ordering the withdrawal of recently announced North Korea-related sanctions imposed by the U.S. Treasury Department. "It was announced today by the U.S. Treasury that additional large scale Sanctions would be added to those already existing Sanctions on North Korea," Trump said on Twitter.

The U.S. and United Nations have imposed strict sanctions on North Korea, banning the shipping or sale of technology, luxury goods, fuel and military equipment to the country.

Treasury's action is the latest U.S. effort to penalize China for its longstanding economic support for North Korea, as the Trump administration ramps up pressure on North Korean leader Kim Jon Un to abandon the country's nuclear program.

"The United States and our like-minded partners remain committed to achieving the final, fully verified denuclearization of North Korea and believe that the full implementation of North Korea-related UN Security Council resolutions is crucial to a successful outcome," said Treasury Secretary Steven Mnuchin in a statement Thursday. "Treasury will continue to enforce our sanctions, and we are making it explicitly clear that shipping companies employing deceptive tactics to mask illicit trade with North Korea expose themselves to great risk."

Dalian Haibo allegedly shipped cargo from China to North Korea on behalf of Paeksol Trading Corporation. Treasury targeted North Korea-based Paeksol under sanctions in 2017 for allegedly funding a Kim regime intelligence agency through iron ore sales to China.

Liaoning Danxing is accused of using "deceptive practices" to help North Korean officials based in the European Union purchase goods for the Kim regime.

Trump says additional sanctions on North Korea not necessary.
Trump says additional sanctions on North Korea not necessary

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