Tuesday morning, the Treasury Department's Office of Foreign Assets Control announced a new round of sanctions against Chinese and Russians with direct ties to North Korea's nuclear weapons program.
The OFAC released a lengthy statement describing the sanctions against 10 entities and six individuals in response to “North Korea’s ongoing development of weapons of mass destruction, violations of United Nations Security Council Resolutions, and attempted evasion of U.S. sanctions.” It read, in part:
Today’s sanctions target third-country companies and individuals that
- assist already-designated persons who support North Korea’s nuclear and ballistic missile programs,
- deal in the North Korean energy trade,
- facilitate its exportation of workers, and
- enable sanctioned North Korean entities to access the U.S. and international financial systems.
The sanctions block all property, or interests in property, held by the designated entities and individuals within the U.S., meaning they cannot be moved, sold, or dealt with in any way, and U.S. residents are prohibited from dealing with the designated entities and individuals. Treasury Secretary Steven Mnuchin added:
"Treasury will continue to put pressure on North Korea by targeting those who support the advancement of nuclear and ballistic missile programs, and isolating them from the American financial system. It is unacceptable for individuals and companies in China, Russia, and elsewhere to enable North Korea to generate income used to develop weapons of mass destruction and destabilize the region. We are taking actions consistent with UN sanctions to show that there are consequences for defying sanctions and providing support to North Korea, and to deter this activity in the future."
The sanctions will target North Korea’s nuclear weapons and missile programs, coal and oil trade, and Kim Jong-un’s use of exporting workers—effectively slaves—to work in other countries to generate revenue for his regime. Click here to read the entire sanctions announcement.