US Treasury Adds 1 Russian, 5 Chinese Companies to North Korean Sanctions List

The US Treasury Department has expanded sanctions on North Korea and added 5 Chinese and 1 Russian company to the list.

The United States sanctioned five Chinese entities under an executive order targeting North Korea, the US Department of Treasury Office of Foreign Assets Control (OFAC) said on Tuesday.

China-based Dandong Rich Eart Trading Co., Ltd, Dandong Tianfu Trading Co., Ltd., Dandong Zhicheng Metallic Material Co., Ltd. and Jinhou International Holdings Co., Ltd. were added to the OFAC specially designated nationals list on its website. Mingzheng International Trading Limited, based in Hong Kong, was also added.

The United States added the Moscow-based company Gefest-M LLC to its North Korea sanctions list as it is allegedly linked to the Korea Tangun Trading Corporation.

Moreover, 4 Russian nationals and 1 Chinese have been included in the sanctions list.

Russian individuals Irina Igorevna Huish, Ruben Ruslanovich Kirakosyan, Mikhail Yurevich Pisklin and Andrey Serbin were added to the North Korea designated nationals list of US Department of Treasury Office of Foreign Assets Control (OFAC) website. A Chinese national, Chi Yupeng, was also included.

The sanctions freeze all of the individuals’ and entities’ assets subject to US jurisdiction and generally prohibit US persons from doing business with them.

The news comes amid an escalation on the Korean Peninsula as the joint US-South Korean Ulchi Freedom Guardian (UFG) drills are underway. The military exercises, in which about 17,500 US servicemen and about 50,000 South Korean troops are participating, have been harshly criticized by Pyongyang.

In July, Russia and China proposed a "double freeze" scenario, where North Korea would cease its nuclear missile tests, while US-South Korean military drills would be simultaneously halted. The initiative was rejected by the United States. North Korea has not yet issued an official response on the matter.

Tensions around Pyongyang's missile program have flared up in recent weeks, following the adoption of the UN Security Council sanctions, which led to North Korea trading threats and warnings with the United States. Most notably, Pyongyang said it might consider an attack on the area near the US territory of Guam in the Western Pacific.

Following the recent escalation of the Korean Peninsula, both Moscow and Beijing reiterated their call on involved parties to consider the "double freeze" plan.

US President Donald Trump has repeatedly called on Beijing to increase economic pressure on North Korea as China is Pyongyang's biggest trade partner.

Last week, China decided to introduce a ban on imports of some goods from North Korea in line with a UN Security Council resolution.

Earlier, media reported that North Korea has summoned several key ambassadors to Pyongyang for a meeting in the wake of the ongoing tensions over the North Korean nuclear and missile program and a new round of UN sanctions.