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U.S. prosecutors to impose measures on Chinese firms involved with North Korea

U.S. prosecutors to impose measures on Chinese firms involved with North Korea”

The Treasury's Office of Foreign Assets Control (OFAC) designated three Russian individuals and two Singapore-based companies involved in providing oil to North Korea, and around a dozen other entities providing support or financial services to US - and UN-designated North Korean entities.

China has said it would ban exports to North Korea as part of the new sanctions imposed on the latter by the United Nations, but U.S. officials are reportedly frustrated Beijing hasn't shut the firms which control this down.

The sanctions are meant to pressure Pyongyang to end its nuclear weapons and ballistic missile programs.

The situation on the Korean Peninsula has become aggravated in recent months due to Pyongyang's missile launches and nuclear tests, all conducted in violation of the UN Security Council resolutions.

This is reported on the website of the US Department of Finance, news.am reported.

The judge's order targeted a company called Dandong Zhicheng - who have not commented - and four related firms which allegedly bought coal from North Korea with US dollars.

The sanctions assume the freezing of their financial assets in the United States, and visa restrictions.

The Trump administration on Tuesday imposed penalties on 16 mainly Chinese and Russian entities linked to Pyongyang amid heightened tensions over North Korea's missile program.

The US Office of Foreign Assets Control designated 10 companies and six individuals in its sanctions.

Beijing has banned individuals and enterprises from opening new joint venture companies with North Koreans in China, in line with UN Security Council sanctions.

The Justice Department said it is seeking a forfeiture of nearly $7 million from Velmur Management and associated Transatlantic Partners over allegations they laundered money for sanctioned banks that were trying to procure petroleum from JSC Independent Petroleum Company.



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