US Investigates Chinese Firm Tied to N. Korea

Write : 2017-07-17 08:37:45 Update : 2017-07-18 08:58:37

US Investigates Chinese Firm Tied to N. Korea

The U.S. has reportedly launched an investigation into a Chinese company allegedly involved in illicit trade with North Korea.
 
Japan’s Yomiuri Shimbun daily said on Saturday that the Trump administration is probing a trading company based in the Chinese border city of Dandong, where the majority of trade between China and North Korea takes place.
 
The U.S. Justice Department has been granted seizure warrants against eight banks to investigate bank accounts held by the Chinese trading company in the U.S.
 
According to the related documents, the trading firm is involved in North Korea’s purchases related to its military equipment and weapons development programs.
 
The amount of illegal transactions is estimated at over 700 million U.S. dollars.
 
Yomiuri quoted U.S. think tank C4ADS as saying the firm is the single biggest Chinese importer of North Korean coal over the past three years.
 
A company affiliated with the firm was reportedly involved in transporting rockets exported by North Korea.
 
Yomiuri and C4ADS did not specify the name of the firm, but it is presumed to be Dandong Zhicheng Metallic Material.
 
Washington plans to impose financial sanctions on the firm if it secures evidence of its illicit transactions with North Korea.
 
The firm is among ten Chinese firms listed in a bill recently presented by U.S. Senator, Cory Gardner, which seeks to block any firm that significantly trades with North Korea from accessing the U.S. financial system. 
 
 


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