CHINA/NORTH KOREA/TREASURY: “The U.S. Department of the Treasury announced a new set of actions Thursday [6-29-17] aimed at increasing pressure on North Korea, including cutting off a Chinese bank that is accused of laundering money and providing financing to North Korea in violation of international sanctions.
‘This bank has served as a gateway to North Korean access to the U.S. and international financial systems that has facilitated millions of dollars in transactions for North Korea’s nuclear and ballistic missile programs,’ Treasury Secretary Steven T. Mnuchin said at the daily White House briefing Thursday. ‘The United States will not stand for such actions.’
The United States will also impose sanctions on two Chinese people and a Chinese shipping company that are believed to have assisted North Korea with its nuclear and missile programs. Mnuchin made clear that the United States is ‘in no way targeting China with these actions’ and that U.S. officials ‘look forward to continuing to work closely with the government of China to stop the illicit financing in North Korea.’ Mnuchin added that this ‘very significant action’ sends the message to those around the world that the United States will follow the money trail leading to North Korea and continue to crack down on those assisting the country.”
-Jenna Johnson and David Nakamura, “U.S. Treasury Department announces new sanctions to increase pressure on North Korea,” The Washington Post online, June 29, 2017 03:29pm