US hits North Korea and Russia with new sanctions, Treasury says 

Washington – On Monday, the United States announced new sanctions against North Korea and Russia aimed at disrupting Pyongyang’s financial and military support to Moscow and their ballistic missile program.

These latest measures, which target North Korean banks, generals, and other officials, as well as Russian oil shipping companies, are part of the ongoing effort to put a stop to North Korea’s involvement in Russia’s war in Ukraine.

Among the North Korean entities affected are Golden Triangle Bank, one of the largest banks in the northeastern Rason Special Economic Zone, and Korea Mandal Credit Bank in Pyongyang, which has representatives throughout China, according to a statement released by the Treasury Department.

The Ministry of Foreign Affairs in South Korea also announced that it had blacklisted 11 individuals and 15 entities for their involvement in illegal military cooperation between North Korea and Russia.

The sanctions come on the heels of a joint statement released by 10 countries, including the U.S., South Korea, Australia, Britain, France, Japan, and the European Union, condemning Pyongyang and Moscow’s actions in the strongest possible terms.

The statement emphasized that North Korea’s support for Russia’s war against Ukraine is a dangerous escalation of the conflict and a clear violation of United Nations’ sanctions. The countries called on North Korea to withdraw its troops from Russia immediately.

In recent years, Pyongyang and Moscow have strengthened their diplomatic and economic ties, culminating in Russian President Vladimir Putin’s visit to North Korea in June, where the two leaders agreed to a mutual defense pact.

International concern has been mounting over the military cooperation between these two countries, with the U.S., Kyiv, and Seoul condemning North Korea’s involvement in Russia’s full-scale invasion of Ukraine, which began in February 2022.

According to Bradley Smith, acting Under Secretary of the U.S. Treasury for terrorism and financial intelligence, North Korea’s actions, including their recent test of a long-range ballistic missile and their continued military support to Russia, destabilize the region and support Putin’s war in Ukraine.

Smith stated that the U.S. is committed to disrupting the illicit procurement and facilitation networks that enable these destabilizing activities.

The sanctioned officials, both by the U.S. and South Korea, include North Korean generals who are leading tens of thousands of troops in Russia, including Kim Yong Bok, who has appeared at seven events with North Korean leader Kim Jong Un this year, including special forces exercises.

South Korea also blacklisted the North’s special forces unit known as the Storm Corps, which is fighting against Ukraine in Russia, and their leader, Ri Pong Chun.

According to reports, at least 30 North Korean soldiers were killed or injured in combat in Russia’s Kursk region over the weekend. Kyiv estimates that there are around 11,000 North Koreans fighting alongside Russian forces in Ukraine.

Ukraine has accused Russia of deploying these North Korean soldiers, in significant numbers, to conduct assaults on Ukrainian forces in the southern region, with a cross-border incursion taking place in Kursk in August.

Russia has neither confirmed nor denied the presence of North Korean soldiers on their side.

The sanctions imposed by the Treasury Department involve freezing assets of the designated entities in the U.S., banning their trade with Americans, and blocking them from any transactions with the U.S. financial system.

The affected companies include Vostok Trading, DV Ink, and Novosibirskoblgaz – all Russian-based foreign trade companies that the Treasury says have been shipping oil and gas to North Korea since 2022, in violation of U.N. sanctions.

According to an analysis of satellite imagery published in November by the British-based Open Source Centre and the BBC, North Korea has likely received over a million barrels of oil from Russia over an eight-month period this year.

The report, published on the website of the research group Open Source Centre, stated that North Korean oil tankers have made more than 40 visits to Russia’s Far Eastern port of Vostochny since March.

The sanctions also target Sibregiongaz, AO, the Russia-based parent company and 100% owner of Novosibirskoblgaz, as well as Okryu Trading Company, a North Korea-based foreign trade company that Treasury says has received thousands of tons of oil shipments from Russia.

These new sanctions send a strong message to both North Korea and Russia that their actions will not be tolerated by the international community. The continued support of North Korea’s military activities in Russia only serves to undermine the

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