The United States imposed new sanctions on three companies and two individuals accused of generating revenue for the North Korean government.
The punitive measures will freeze any assets of those affected in the United States. In addition, the people, banks and other companies you do business with in the future are also subject to sanctions – a move that is likely to make international business more difficult for those affected.
The US Treasury said in Washington on Wednesday that North Korea’s “illegal programs of weapons of mass destruction and ballistic missiles” threaten international and regional stability. The United States is determined to target the regime’s “illegal networks that generate revenue from these destabilizing activities.”
North Korea is already under severe sanctions by the UN Security Council. The USA, South Korea, Japan and the European Union, for example, have repeatedly decided on their punitive measures against North Korea in recent years. UN resolutions ban the largely isolated country from conducting nuclear testing and ballistic missile testing, which could, by design, be fitted with a nuclear warhead.
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