WASHINGTON – The U. S. Department of the Treasury’s Office of Foreign Assets Control OFAC today announced North Korea connected designations, carrying on with the implementation of current UN and U. S. sanctions.
Today’s action in opposition t one individual and 3 entities was taken pursuant to Executive Order 13810 of September 20, 2017, and goals persons concerned in facilitating illicit shipments on behalf of North Korea. This action reinforces america’ ongoing commitment to avoid financial flows to the DPRK’s unlawful WMD courses and activities, according to the selections of the UN Security Council UNSC. As a result of today’s action, any assets or interests in belongings of the particular individuals in the possession or manage of U. S. persons or in the United States has to be blocked, and U.
S. persons commonly are prohibited from coping with any of the designated persons. “Treasury will proceed to enforce existing sanctions on North Korea, and will take action to block and designate companies, ports, and vessels that facilitate illicit shipments and provide earnings streams to the DPRK,” said Treasury Secretary Steven Mnuchin. “The tactics that these entities based in China, Singapore, and Russia are using to attempt to evade sanctions are prohibited under U. S.
law, and all facets of the delivery industry have a obligation to abide by them or expose themselves to severe risks. Consequences for violating these sanctions will remain in place until we now have completed the final, fully demonstrated denuclearization of North Korea. ”OFAC unique China based Dalian Sun Moon Star International Logistics Trading Co. , Ltd. and its Singapore based affiliate, SINSMS Pte. Ltd.
These businesses worked together to facilitate illicit shipments to North Korea using falsified transport files, including exports of alcohol, tobacco, and cigarette related merchandise. The illicit cigarette trade in North Korea reportedly has netted over $1 billion per year for the regime. SINSMS Pte. Ltd. is responsible for exports to North Korea and regular buying and selling of items from China, Singapore, Hong Kong, Thailand, Vietnam, Indonesia, and Cambodia.
Employees at SINSMS Pte. Ltd. also provided data on how to evade delivery restrictions by sending cargo SINSMS Pte. Ltd. to Nampo, North Korea, via Dalian, China. OFAC also distinctive Russia based Profinet Pte Ltd.
Profinet and its Director General, Russian countrywide Vasili Aleksandrovich Kolchanov. Profinet is a Russian port carrier agency that provides loading, bunkering, supplying, and departure arrangements for vessels calling at the Russian ports of Nakhodka, Vostochny, Vladivostok, and Slavyanka. Profinet has provided port amenities on at the least six separate events to DPRK flagged vessels, together with the sanctioned vessels CHON MYONG 1 and RYE SONG GANG 1, that have carried hundreds of metric a whole bunch subtle oil products. Profinet continued to offer its bunkering facilities to DPRK flagged vessels even after its employees knew of oil related sanctions on North Korea. Kolchanov was personally involved in North Korea linked deals and interacted straight with North Korean representatives in Russia.