US Sanctions 3 Shipping Firms Over NKorea Strategic Trade

US Sanctions 3 Shipping Firms Over NKorea Strategic Trade

US Sanctions 3 Shipping Firms Over NKorea Strategic Trade

Wednesday, The Trump Administration imposed additional sanctions on 3 foreign companies the US Treasury Department sayd are helping NKorea with illicit shipments of goods to fund its nuclear program.

The US Treasury Department said it was taking action against the companies, which are based in China, Russia and Singapore, as well as the head of the Russian shipping firm. The move will block any assets that they may have in US jurisdictions and bars Americans from doing business with them at any level.

This comes as the US continues to press for full compliance with international sanctions against NKorea while it continues talks with the Kim regime on ending its nuclear program as agreed at the Summit.

“Treasury will continue to implement existing sanctions on NKorea, and will take action to block and designate companies, ports and vessels that facilitate illicit shipments and provide revenue streams to the DPRK,” US Treasury Secretary Steven Mnuchin said. “Consequences for violating these sanctions will remain in place until we have achieved the final, fully verified denuclearization of NKorea.”

Those targeted on Wednesday are the China-based Dalian Sun Moon Star International Logistics Trading Co. and its Singapore-based affiliate, SINSMS Ltd., along with Russia’s Profinet Ltd. and its director general, Vasili Aleksandrovich Kolchanov

They are all accused of helping North Korea evade international sanctions by re-routing exports and imports through Chinese and Russian ports.

US Treasury said the Chinese company and its Singaporean affiliate had used false shipping documents to export alcohol and tobacco products to NKorea in violation of international sanctions.

It said the Russian firm and its director general, Vasili Aleksandrovich Kolchanov, provided port services at least 6X to NKorean-flagged vessels engaged in sanctions busting strategic Crude Oil shipments to the Kim regime.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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