US Imposes New North Korea-Related Sanctions – Treasury Department

0

The US Department of the Treasury’s Office of Foreign Assets Control has introduced sanctions against two companies for exploiting North Korean overseas labor, Korea Namgang Trading Corp and Beijing Sukbakso, on 14 January.

A statement issued by the Treasury claims that the Korea Namgang Trading Corp has been involved in exportation of workers from North Korea to generate revenue for the country’s government, while Beijing Sukbakso allegedly ran a China-based lodging facility to facilitate labor export.

“The exportation of North Korean workers raises illicit revenue for the government of North Korea in violation of UN sanctions,” Treasury Secretary Steven Mnuchin said

News of this development come as North Korean head of state Kim Jong-un accused the Trump administration of deliberately wasting time, vowing that the prolongation of a stalemate in denuclearization talks will not be beneficial for the US.

Kim also declared that Pyongyang will no longer be bound by a preemptive ICBM test moratorium as long as Washington continues military drills on and around the Korean peninsula.

Since 2018, the United States and North Korea held bilateral talks in a bid to normalize relations between the two countries and to possibly achieve the denuclearization of the Korean peninsula.

MORE DETAILS TO FOLLOW


©
Sputnik /

Sputnik News

South Africa Today – World News – Asia and Pacific

Disclaimer: The views of authors published on South Africa Today are their own and do not necessarily represent the views of South Africa Today. By viewing, visiting, using, or interacting with SouthAfricaToday.net, you are agreeing to all the provisions of the Terms of Use Policy and the Privacy Policy.