The sanctions affect eight North Korean banks and 26 people.
Limitations, as specified in the Ministry of Finance, concerned citizens of North Korea, who act as representatives of the North Korean banks in the territories of China, Russia, Libya and the United Arab Emirates (UAE).
The sanctions were imposed against banks Agricultural Development Bank, Cheil Credit Bank Hana Banking Corporation Ltd., International Industrial Development Bank, Jinmyong Joint Bank, Jinsong Joint Bank, Koryo Commercial Bank Ltd and Commercial Bank Ryugyong.
Such measures, according to the Ministry, Washington has taken “in response to the ongoing development of Pyongyang’s weapons of mass destruction and the continuing violations of the resolutions of the UN Security Council”. Sanctions, as I hope in the United States, “would violate the DPRK access to the international financial system”.
A new package of sanctions, said the Minister, “in line with resolutions of the UN Security Council” and is a Supplement to an approved 11 September the security Council sanctions.
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