September 23, 2020

U.S. Treasury sanctions Moscow bank accused of ties to North Korea

Russian Financial Society accused of setting up bank accounts for designated DPRK companies

The U.S. on Wednesday designated a Russian bank accused of assisting North Korea in evading sanctions, according to a statement from the Department of the Treasury.

The new measures, which target a bank called Russian Financial Society, are the first unilateral U.S. sanctions related to North Korea to be imposed since March, when President Donald Trump announced a rollback of new “large scale sanctions” against the DPRK.