US imposes sanctions on businesses and ships involved in coal smuggling

The U.S. Department of the Treasury imposed sanctions on Tuesday (local time) against North Korean and Chinese trading companies and ships involved in illicit exports of North Korean coal. With less than 50 days remaining until the end of President Trump’s term in office, the level of pressure on North Korea and China.

The Treasury Department announced a statement on Tuesday criticizing China for having continuously been involved in the illicit exports of North Korean coal in violation of the U.N. Security Council’s sanctions against North Korea and revealed new sanctions. According to the statement, a total of six logistics – four Chinese, one North Korean, and one Vietnamese – have been newly added to the subject of sanctions along with a total of four ships – two Chinese, one Hong Kongese, and one Vietnamese. All assets of the companies and related persons in the U.S. will be frozen and all financial transactions in the U.S. will be suspended for them.

While the U.N. Security Council Resolution 2371, which was put forward to impose sanctions against North Korea in July 2017, bans any coal export from North Korea, the U.S. believes that North Korea is continuing its operation with the help of china.

The new sanctions can be also seen as a warning to put pressure on North Korea and China to refrain from sudden actions during the time of U.S. power change. “Tensions between the U.S. and China over North Korea have added to diplomatic friction over a range of economic and national security issues,” said The Wall Street Journal.


Bo-Mi Im bom@donga.com