[속보] US Treasury Department sanctions two individuals and three businesses involved in ‘oil exports to North Korea’

The US Treasury Department’s Office of Foreign Assets Control (OFAC) announced on the 7th (local time) that it had placed two individuals and three businesses involved in oil exports to North Korea on the sanctions list.

The Ministry of Finance explained that the decision of the United Nations Security Council is the basis for this measure, and that the actions of those on the sanctions list directly support the development of North Korea’s weapons program and the North Korean military. Two individuals, Kwek Kee Seng from Singapore and Chen Shih Huan from Taiwan, and three businesses, New Eastern Shipping from the Marshall Islands, were on the sanctions list.

They appear to have been involved in the ownership and operation of the ship Courageous, which has been involved in the delivery of crude oil to North Korea on several occasions. The ship engaged in ship-to-ship transactions with North Korea, which is banned by the United Nations, and delivered oil directly to the North Korean port of Nampo at least once.

“North Korea’s launch of long-range ballistic missiles, including those that passed over Japan, shows that it continues to violate UN Security Council resolutions,” said Brian Nelson, undersecretary for terrorism and secret- financial information at the US Treasury Department. “The United States will continue to implement multilateral sanctions, and will track North Korea’s efforts to evade sanctions around the world and punish those who assist in those activities,” he added.

Reporter Ki-seop Noh