Friday, 24 November 2017 15:01

US sanctions target North Korean shipping

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As part of US efforts to disrupt North Korea's funding of its nuclear and ballistic missile programs, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) yesterday sanctioned one individual, 13 entities, and 20 vessels.  Six shipping and their vessels were named in the sanctions - Korea Rungrado Shipping Company, Yusong Shipping Company, Dawn Marine Management Co. Ltd, Korea Daebong Shipping, and Korea Kumbyol Trading Company. The US also released images of a North Korean attempt to evade sanctions by ship-to-ship transfers. The sanctions target third-country persons with long-standing commercial ties to North Korea, as well as the transportation networks that facilitate North Korea's revenue generation and operations.

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