The U.S. Department of the Treasury has unveiled several new North Korea sanctions designations on both Russian and North Korean individuals and entities, a press release published on Thursday reveals.
The new designations from the Treasury’s Office of Foreign Assets Control (OFAC) pertain to Executive Orders (EO) 13382, 13687 and 13722.
The EO’s and Thursday’s sanctions target WMD proliferators, the Government of North Korea, the Worker’s Party of Korea and their supporters, as well as the country’s revenue earned from its commodity, energy and financial service industries.
“The United States will continue to target individuals and entities responsible for financing and supporting North Korea’s nuclear weapons and ballistic missile programs, and will continue to increase pressure on this hostile regime,” said John E. Smith, Director of OFAC, according to the press release.
The designations target a Russian individual and entities, including the Independent Petroleum Company (IPC), a company worth USD$4 billion, according to Bloomberg News.
“IPC is a Russian company that has signed a contract to provide oil to North Korea and reportedly has shipped over $1 million worth of petroleum products to North Korea,” the OFAC statement read.
“IPC also may have been involved in circumventing North Korean sanctions. OFAC also designated one of IPC’s subsidiaries, AO NNK-Primornefteproduct.”
NK News previously identified Primornefteproduct as a possible North Korea oil supplier in 2015.
A Russian national – Igor Aleksandrovich Michurin – and a Moscow-based company called Ardis-Bearings LLC, for which Michurin is listed as director, was also added to the list.
According to OFAC, Ardis-Bearings LLC supported the Korea Tangun Trading Corporation, sanctioned by the UN in 2009 for “being engaged in or providing support for, including through other illicit means, DPRK’s nuclear-related, other weapons of mass destruction-related and ballistic missile-related programmes.”
The Korean People’s Army (KPA), Ministry of People’s Armed Forces (MPAF) and the State Affairs Commission (SAC) were included in the latest round of sanctions for being controlled entities of the North Korean Government and for their involvement in military, nuclear and WMD programs.
OFAC also targeted the Korea Computer Center (KCC), North Korea’s primary software developer.
“The KCC generates money for the North Korean regime through software development and programming … The KCC is reported to have overseas locations in Germany, China, Syria, India, and the Middle East,” OFAC said.
“As of 2014, KCC allegedly earned foreign currency for the UN- and U.S.-designated Munitions Industry Department, which is responsible for overseeing North Korea’s ballistic missiles,” it added.
Two North Korean individuals identified as Su Kwang Kim and Song Hyok Ri, were also added to the designation list. Kim, OFAC says, is an official of the North Korean intelligence organization – the Reconnaissance General Bureau (RGB).
Kim was previously identified by a UN Panel of Experts (PoE) in 2015 as an RGB operative who had infiltrated the World Food Programme (WFP) in Rome.
Ri was designated for activities pertaining to North Korea’s financial services, and according to OFAC, was a Beijing-based official for the already designated Koryo Bank and Koryo Credit Development Bank.
Ri “has reportedly established several front companies in order to procure items and conduct financial transactions on behalf of North Korea,” OFAC said.
North Korea’s Songi Trading Company and the Korea Zinc Industrial Group were also designated for being involved in exporting coal and zinc separately from the DPRK.
UN Security Council Resolution 2321, adopted in November 2016, also prohibits the export of coal and zinc from North Korea.
Join the influential community of members who rely on NK News original news and in-depth reporting.
Subscribe to read the remaining 577 words of this article.
Featured Image: Treasury Department by allaboutgeorge on 2009-03-29 12:35:23