U.S. Expands N.Korea Sanctions

      July 01, 2013 10:25

      The U.S. last Thursday added two more North Korean financial institutions and two more individuals to a blacklist for their suspected involvement in nuclear weapons development and proliferation of ballistic missiles and weapons of mass destruction.

      The U.S. Treasury Department's Office of Foreign Assets Control said it added Daedong Credit Bank and its front company DCB Finance, a firm registered in the Virgin Islands; and Kim Chol-sam (42), the branch manager of DCB Finance in Dalian, China, and Son Mun-san (62), the chief of external affairs for the General Bureau of Atomic Energy, who is believed to have overseen the North's nuclear development programs since 2010.

      Under the sanctions, U.S. citizens are barred from doing business with them and their assets in the U.S. will be frozen.

      The Treasury said the institutions and individuals are suspected of having been used as financial conduits for the North's overseas weapons transactions or having managed such funds.

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