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Mnuchin Announces Sanctions on Chinese Bank Over North Korea

Mnuchin Announces Sanctions on Chinese Bank Over North Korea

“North Korea’s provocative, destabilizing, and inhumane behavior will not be tolerated.”

Treasury Secretary Steven Mnuchin announced that the U.S. has sanctioned two Chinese citizens, a shipping company, and a bank. He accused the “bank of laundering money for Pyongyang.” From The New York Times:

A Treasury statement named the bank as the Bank of Dandong and the firm as Dalian Global Unity Shipping Co Ltd. It named the two individual as Sun Wei and Li Hong Ri.

The statement quoted U.S. Treasury Secretary Steven Mnuchin as saying that the steps were taken as part of efforts to maximize pressure on North Korea to abandon its weapons programs.

“The United States is sending an emphatic message across the globe that we will not hesitate to take action against persons, companies and financial institutions who enable this regime.”

The U.S. move came as U.S. President Donald Trump was due to meet South Korean President Moon Jae-in at the White House on Thursday to discuss steps to push North Korean to abandon its weapons programs, which have become an increasing threat to the United States.


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