U.S. targets Chinese bank, company, two individuals over North Korea

The United States on Thursday imposed sanctions on two Chinese citizens and a shipping company for helping North Korea’s nuclear and missile programs and accused a Chinese bank of laundering money for Pyongyang.

U.S. Treasury Secretary Steve Mnuchin said at a press conference that the actions were designed to cut off funds that North Korea uses to build its weapons program. “We will follow the money and cut off the money,” he said.

A Treasury statement named the bank as the Bank of Dandong and the firm as Dalian Global Unity Shipping Co Ltd. It named the two individuals as Sun Wei and Li Hong Ri.

The sanctions imposed on the two Chinese citizens and the shipping company blacklists them from doing business with U.S.-tied companies and people.

Mnuchin said U.S. officials were continuing to look at other companies that may be helping North Korea and may roll out additional sanctions.

Read the whole story from Reuters.

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