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U.S. claims over 100 Chinese companies covertly deal with N. Korea

U.S. claims over 100 Chinese companies covertly deal with N. Korea

Posted August. 25, 2017 08:42,   

Updated August. 25, 2017 08:54

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Among 10 businesses and six individuals of China and Russia, which dealt business transactions with North Korea, the U.S. has decided to levy sanctions and forfeit 11 million U.S. dollars from three companies. Furthermore, Washington is reportedly undergoing investigations into around 100 companies as well.

As the U.S. Treasury Department is highly likely to round up a list of businesses that violated the UN Security Council resolutions and announce additional companies subject to the sanction next month, a fierce backlash from Beijing awaits Washington.

"There are hundreds of Chinese companies directly and indirectly supporting the North Korean nuclear and missile development by providing luxury goods and facilitating financial transactions, but the Chinese government never seems to hold grasp of their existence," said a U.S. State Department official during a telephone interview. "An additional announcement on other companies subject to the sanctions will be made next month regardless of whether China is cooperating with the North Korean nuclear issue."

The U.S. Treasury Department has designated this year a total of 23 institutions and 22 individuals for sanctions, and is reviewing plans on sanctioning a state-owned large bank in China.

"The recent move comes as an effort from Washington that will bind Beijing to participate with the international society by disclosing the violations on UNSC resolutions, so that China as the permanent member of the UNSC cannot side with North Korea with no rational grounds," said a diplomacy expert in Washington.



Jeong-Hun Park sunshade@donga.com