July 04, 2022

US sanctions North Korean rocket ministry in response to ‘escalatory’ ICBM tests

Treasury Department designates ministry and four subordinate companies for supporting DPRK’s weapons development

The U.S. has newly sanctioned North Korea’s Ministry of Rocket Industry and four related companies for supporting the country’s weapons development programs, the U.S. Treasury Department announced on Friday.

The Treasury’s Office of Foreign Assets Control (OFAC) cited Pyongyang’s “escalatory ballistic missile launches” in recent months for the new designations, stating that its tests of intercontinental ballistic missiles (ICMBs) “demonstrate the DPRK’s clear determination to continue developing its unlawful WMD and ballistic missile programs.”