US sanctions shipping firms over North Korea trade

August 15, 2018 - 11:38 am

WASHINGTON (AP) — The Trump administration is imposing sanctions on three foreign companies it says are helping North Korea with illicit shipments of goods to fund its nuclear program.

The Treasury Department said Wednesday it was taking action against the companies, which are based in China, Russia and Singapore, as well as the head of the Russian firm. The move blocks any assets that they may have in U.S. jurisdictions and bars Americans from doing business with them.

Those targeted are the China-based Dalian Sun Moon Star International Logistics Trading Co. and its Singapore-based affiliate, SINSMS Ltd., along with Russia's Profinet Ltd. and its director general. They are accused of helping North Korea evade international sanctions by re-routing exports and imports through Chinese and Russian ports.

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