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US expanded sanctions on North Korea

UNITED STATES, WASHINGTON (OBSERVATORY) — The US has expanded new sanctions on the DPRK, it follows from a published statement by the Ministry of Finance.

Two individuals from Taiwan, three Taiwanese shipping companies Jui Cheng Shipping Company Limited, Jui Pang Shipping Co., Jui Zong Ship management Co. ltd, and one Shang Yuan Bao “Panama flag” were sanctioned.

The Ministry of Finance said that the actions taken are a demonstration that the DPRK “continues to use illegal shipments” between ships, bypassing UN Security Council sanctions.

“Shipping companies trading with North Korea put themselves at significant risk of sanctions, despite the fraudulent practices they are trying to use,” the agency said.

Entering the sanctions list means that the property and shares in the property of these companies or other companies that directly or indirectly owned 50% or more in these companies are in the United States or in the possession or control of US citizens, from now on.

In addition, US citizens are prohibited from any transactions with these companies and citizens.

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