Trump is taking stern actions against North Korea. Read How?

There is another incident that brought into light that how deeply these Chinese companies are in bed with North Koreans. The United States has issued new sanctions against a Chinese bank for favoring North Korea.

Telling about the sanctions, Secretary of Treasury Steve Mnuchin said that China’s bank of Dandong has been blacklisted for being a “foreign financial institution of primary money laundering concern.”

He added,“This bank has served as a gateway for North Korea to access the U.S. and international financial systems, facilitating millions of dollars of transactions for companies involved in North Korea’s nuclear and ballistic missile programs.The United States will not stand for such action. This will require U.S. banks to ensure that the Bank of Dandong does not access the U.S. financial system directly or indirectly through other foreign banks.”

Additionally, Treasury also put sanctions on another company called Dalian Global Unity Shipping Co. Ltd and two Chinese nationals for their suspected dealing with North Koreans.

Mnuchin was very clear about the sanctions put on Chinese individuals and said “While today’s actions are directed at Chinese individuals and entities, we look forward to working closely with the government of China to stop illicit financing involving North Korea. We are in no way targeting China with these actions,”

These two Chinese Wei Sun was sanctioned for his connections to the Foreign Trade Bank of the Democratic People’s Republic of Korea and Hong Ri Li for links to Song Hyok Ri, a North Korean banking executive.

From all the sanctions, it is clear that Trump’s administration is doing everything possible to put pressure on North Korea and their biggest partner China.

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