July 01, 2022

After failed UN vote, US slaps new sanctions on North Korea-linked entities

Unilateral designations target DPRK official linked to weapons programs, two banks and trading company

The U.S. designated one individual and three entities accused of aiding North Korea’s weapons programs on Friday, one day after the U.N. failed to place additional sanctions on Pyongyang for a series of long-range missile tests.

In a press release announcing the designations, an official from the Treasury Department’s Office of Foreign Assets Control (OFAC) said the government was targeting “supporters of the DPRK’s WMD and ballistic missile programs, as well as foreign financial institutions that have knowingly provided significant financial services to the DPRK.”