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U.S. sanctions Singapore companies over North Korea dealings

U.S. sanctions Singapore companies over North Korea dealings

Posted October. 27, 2018 09:05,   

Updated October. 27, 2018 09:05


The U.S. Treasury Department has put additional unilateral sanctions on Singapore businesses and individuals for colluding with North Korea to circumvent sanctions on commercial activities.

The Office of Foreign Assets Control of the Treasury Department imposed Thursday (local time) sanctions on Singapore’s trading company, Wee Tiong (S) Pte. Ltd., and vessel operator WT Marine Pte. Ltd., and Tan Wee Beng who took charge of them. It is the 9th unilateral sanction imposed by Washington this year. The previous one was executed just 21 days ago when the U.S. sanctioned Turkish businesses and North Korean diplomats for engaging in illegal trade of arms and luxury goods. The number is higher than that of last year when North Korea aggressively carried out missile launches and nuclear testing. Six out of the nine rounds of sanctions have been put in place since the historic U.S.-North Korea summit on June 12. Assets relevant to the sanctioned are to be frozen while American nationals are banned from doing business with them.

Asked about the recent moves by the South Korean government to allow South Korean business leaders with their operations at the Gaesong industrial complex to visit North Korea, the Treasury Department reiterated the significance of executing North Korea sanctions Thursday, saying that it is highly hoped that every U.N. member state will fully implement U.N. sanctions including the bans of certain products imposed by the relevant resolutions of the United Nations Security Council.

Gi-Jae Han record@donga.com