US imposes new sanctions on North Korea

The US Treasury Department has imposed sanctions on a company and three individuals who were allegedly involved in illegally transferring funds to North Korea in violation of existing restrictions.

As reported by Caliber.Az, citing a statement from the department, the sanctions took effect on Thursday, July 24. They target the North Korean company Korea Sobaeksu Trading Company and three of its employees — Kim Se Un, Jo Kyong Hun, and Myong Chol Min — for participating in efforts to evade US and UN sanctions.

According to the US Treasury, those involved carried out covert financial operations on behalf of the North Korean government, including fraudulent schemes involving IT specialists.

"The DPRK relies on front companies like Korea Sobaesku Trading Company and key facilitators to procure materials and generate revenue for the regime’s illegal nuclear and ballistic missile programs," Treasury Department official Bradley Smith said.

On the same day, the US Department of Justice filed charges against seven North Korean nationals for sanctions evasion, while the State Department announced rewards ranging from $500,000 to $7 million for information leading to their apprehension.

By Vugar Khalilov