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US Sanctions Fundraisers of North Korea Weapons Program

department of the treasury

The United States has added to its sanctions list two individuals and one Russian company for their involvement in generating funds for North Korea’s development of weapons of mass destruction and ballistic missiles.

The Department of the Treasury’s Office of Foreign Assets Control imposed the sanctions on Moscow-based company Intellekt, Russian national Sergey Mikhaylovich Kozlov and Russia-based North Korean national Jon Jin Yong.

All of the three entities’ properties and interests in the United States are blocked and should be reported to OFAC, Treasury noted in the announcement it posted Thursday. These include companies owned 50 percent or more, directly or indirectly, by the sanctioned group. Transacting with the three within the United States is also prohibited, including contribution of funds, goods or services.

The sanctions, which were coordinated with South Korea and Japan, were imposed in response to Pyongyang’s failed Aug. 23 launch of a reconnaissance satellite.

The action follows Treasury’s sanctions earlier in August on companies of a Slovak arms dealer said to be facilitating Russian raw materials supplies to North Korea, the Wall Street Journal reported.

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