27 Sep '17, 6pm

North Korea banks under U.S. sanctions have partners in China, Singapore

North Korea banks under U.S. sanctions have partners in China, Singapore

Sept. 27 (UPI) -- The United States Treasury is targeting a total of eight North Korean banks, including Cheil Credit Bank and Koryo Commercial Bank, in order to block currency earnings that could go directly to Kim Jong Un and his weapons program. The U.S. sanctions announced Tuesday come after U.S. President Donald Trump signed Executive Order 13810 last week, further expanding sanctions against Pyongyang. Secondary boycotts against entities that conduct business with blacklisted North Korea banks and individuals are now in effect, and Pyongyang's partners overseas could face restrictions if they continue working with North Korea. Anyone trading with North Korea firms on the list will be blocked from accessing the U.S. financial system, or their assets are to be frozen. Some of the North Korean banks under sanctions were developed as joint ventures, South Korean newspape...

Full article: https://www.upi.com/Top_News/World-News/2017/09/27/North-...

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North Korea banks under U.S. sanctions have partners in China, Singapore

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