The United States announced sanctions against China

The US imposed sanctions against individuals and legal entities of China, which is accused of involvement in illegal financial or other transactions with the regime of the DPRK.

Washington has announced sanctions against individuals and legal entities people’s Republic of China, involved in illicit financial and other transactions with North Korean regime in violation of the resolutions of the UN Security Council.

This is stated in an official statement released by the U.S. Treasury on Thursday.

“Network financial crimes investigation U.S. Department of Treasury (FinCEN) concluded that the Chinese Bank “Bank of Dandong” that acts as a conduit for illegal financial activities of North Korea, defined as a foreign Bank, which is engaged in money laundering, and therefore FinCEN has proposed to isolate the Bank from the US financial system”, – reads the statement of the U.S. Treasury.

In addition, it is reported that the Office of foreign assets control (OFAC) further recognized two Chinese nationals and one Chinese company involved in the development programmes of the DPRK concerning weapons of mass destruction, as well as the ongoing violations by Pyongyang by resolutions of the UN Security Council.

At the same time, Treasury Secretary Steven Mnuchin said Thursday that U.S. sanctions are not directed against China as a state but against individuals and legal entities of the state involved in the cooperation with the regime of the DPRK. In his statement, he stressed that the U.S. Treasury thus “seeks to protect the U.S. financial system from abuse by North Korea and increase pressure on the government of the DPRK to renounce nuclear and ballistic missile programs.”

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