BREAKING NEWS Olmsted County with 2nd coronavirus-related death as statewide toll hits 29 Full Story
CLOSINGS: View Closings

US targets Russian bank for violating North Korea sanctions

The US government announced Friday a fresh batch of sanctions targeting a Russian bank for helping the North...

Posted: Aug 3, 2018 4:41 PM
Updated: Aug 3, 2018 4:41 PM

The US government announced Friday a fresh batch of sanctions targeting a Russian bank for helping the North Korean regime develop its nuclear weapons program.

The latest action taken by the Treasury Department also targets one individual and two front companies for facilitating illicit North Korean financial activity.

Asia

Continents and regions

Donald Trump

East Asia

Eastern Europe

Embargoes and sanctions

Europe

Government and public administration

Government bodies and offices

Government organizations - Intl

International relations

International relations and national security

North America

North Korea

Political Figures - US

Russia

The Americas

United Nations

United States

US federal government

"The United States will continue to enforce UN and US sanctions and shut down illicit revenue streams to North Korea," Treasury Secretary Steven Mnuchin said in a statement. "Our sanctions will remain in place until we have achieved the final, fully-verified denuclearization of North Korea."

Russia's Agrosoyuz Commercial Bank was targeted by Treasury for aiding transactions on behalf of Han Jang Su, the Moscow-based chief representative of Foreign Trade Bank, North Korea's primary foreign exchange bank. The US government also imposed sanctions against the FTB's deputy representative, Ri Jong Won.

Both Su and FTB had been previously designated for sanctions by the US. Su was also separately designated by the United Nations. Su and Won should have been expelled from Russia under rules prescribed by the UN. Instead, Russia's Agrosoyuz continued to provide services to Su in violation of UN sanctions, opening multiple bank accounts for at least three FTB front companies, according to the US government.

The two front companies also designated under the latest batch of sanctions by the US government include: Dandong Zhongsheng Industry & Trade Co. Ltd and Korea Ungum Corporation.

The sanctions come a day after President Donald Trump tweeted his thanks to North Korean leader Kim Jong Un Thursday, after the possible remains of American war dead killed in the Korean War arrived back on US soil.

"Thank you to Chairman Kim Jong Un for keeping your word & starting the process of sending home the remains of our great and beloved missing fallen! I am not at all surprised that you took this kind action. Also, thank you for your nice letter - l look forward to seeing you soon!" Trump tweeted in the early hours of Thursday morning.

On Wednesday 55 cases of what are believed to be the remains of Americans who were killed or captured during the Korean War were transported to a military base in Hawaii, after they were handed over to US officials who had traveled to North Korea last week.

Article Comments

Mason City
Clear
48° wxIcon
Hi: 55° Lo: 39°
Feels Like: 43°
Albert Lea
Clear
50° wxIcon
Hi: 53° Lo: 38°
Feels Like: 50°
Austin
Clear
50° wxIcon
Hi: 55° Lo: 39°
Feels Like: 50°
Charles City
Clear
50° wxIcon
Hi: 55° Lo: 39°
Feels Like: 50°
Rochester
Clear
47° wxIcon
Hi: 52° Lo: 37°
Feels Like: 43°
Lovely weekend ahead
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

Cleaning frequently touched surfaces

Image

Passing out palms

Image

Rochester Fire Department taking extra precautions

Image

Stewartville football star gives back to community

Image

Coronas Tacos Undaunted by Name

Image

FEMA suggests only buying groceries for a week

Image

Rochester Fire Department using PPE

Image

Takeout liquor is just a call away in Iowa

Image

A closer look at the CDC recommendation to wear a mask

Image

Stewartville first responder suspension

Community Events