In the multidimensional economic security approach of President Trump, Treasury Secretary Steve Mnuchin plays a critical role. Today the U.S. Treasury announces new sanctions on Chinese and Russian entities for enabling North Korea.
One note that must be underlined – SEVERAL of these sanctioned entities/organizations MAY also be part of the Washington DC lobbying apparatus, directly or indirectly. As such, Secretary Mnuchin becomes a target of those financial interests.
WASHINGTON (Reuters) – The United States is imposing new North Korea-related sanctions, targeting Chinese and Russian firms and individuals for supporting Pyongyang’s weapons programs, U.S. officials announced on Tuesday, but stopped short of an anticipated focus on Chinese banks.
The Office of Foreign Assets Control designated six Chinese-owned entities, one Russian, one North Korean and two based in Singapore. They included a Namibia-based subsidiary of a Chinese company and a North Korean entity operating in Namibia.
Six individuals including four Russians, one Chinese and one North Korean were targeted, the Treasury Department said.
The move follows toughened United Nations sanctions agreed this month after North Korea tested its first two intercontinental ballistic missiles in July.
The Treasury Department said the new sanctions targeted those helping already-designated individuals supporting North Korea’s nuclear and ballistic missile programs and its energy trade. They included three Chinese coal importers.
The steps also targeted those helping North Korea send workers abroad and enabling sanctioned North Korea entities to get access to the U.S. and international financial system.
“Treasury will continue to increase 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,” Treasury Secretary Steven T. Mnuchin said in a statement.
“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.” (read more)