New US Sanctions Directly Target North Korean Military Finances

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FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Photo © Thomson Reuters

The United States and South Korea have jointly announced sanctions on six individuals and two entities across Russia, China, and the United Arab Emirates, accusing them of facilitating funds to North Korea’s weapons programs. The move underscores ongoing efforts to curb Pyongyang’s illicit activities and enforce international sanctions against the regime.

The individuals targeted by the sanctions include Yu Pu Ung, Ri Tong Hyok, Han Chol Man, O In Chun, Jong Song Ho, and Jon Yon Gun. These individuals are alleged to have played significant roles in channeling funds and supplying sensitive materials used in North Korea’s nuclear and missile development programs.

Furthermore, the sanctions extend to two entities: Alis LLC, based in Vladivostok, Russia, and Pioneer Bencont Star Real Estate, located in the United Arab Emirates. Both entities are linked to Chinyong Information Technology Cooperation Co, an organization associated with North Korea’s armed forces. According to statements from the U.S. Treasury Department and South Korea’s foreign ministry, these entities are involved in facilitating illegal financial activities and aiding North Korea’s procurement of foreign currency, particularly through the information technology sector abroad.

Among the individuals sanctioned, Yu Pu Ung is highlighted for his involvement in money laundering and supplying materials crucial for North Korea’s nuclear and missile advancements. The sanctions aim not only to target individuals directly engaged in illicit activities but also those who support North Korea’s illegal financial endeavors.

Chinyong Information Technology Cooperation Co, which was previously sanctioned by the United States in May 2023, is accused of orchestrating a network of companies and representatives to manage North Korean IT workers deployed in Russia and Laos.

The announcement of sanctions comes amid renewed efforts by the United States and South Korea to prevent North Korea from procuring illicit oil, reflecting ongoing concerns about Pyongyang’s nuclear ambitions. Despite years of international sanctions, North Korea’s nuclear and missile programs persist, leading to doubts about the effectiveness of existing sanctions regimes.

The joint action by the United States and South Korea signals their commitment to enforcing sanctions and disrupting North Korea’s illicit activities, even as challenges persist in achieving denuclearization and peace on the Korean Peninsula.

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