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S. Korean Hit with Sanctions by US Treasury over Russia’s War Efforts

Written: 2023-12-13 09:25:13Updated: 2023-12-13 14:49:55

S. Korean Hit with Sanctions by US Treasury over Russia’s War Efforts

Photo : YONHAP News

A South Korean national has been included on a U.S. Treasury list of sanctions related to Russia.

The Treasury Department’s Office of Foreign Assets Control on Tuesday announced sanctions against more than 150 entities and individuals from countries including China, Türkiye and the United Arab Emirates for supporting Russia’s military procurement efforts.

The Treasury said in a press release that South Korean national Lee Dong-jin is a key procurement agent for AK Microtech, a Moscow-backed acquirer of foreign semiconductor technology for Russian microelectronics makers that was sanctioned back in July.

The release said Lee managed shell companies and complex payment networks to fulfill AK Microtech orders for equipment and technology, including some critical in semiconductor production, from South Korean, Japanese and U.S. manufacturers.

Those subject to such sanctions are banned from visiting the U.S. and doing business with companies or individuals there, while their assets in the country are also subject to a freeze.

Separately on Tuesday, the U.S. State Department also added more than 100 entities and individuals involved in acts facilitating Russia’s sanctions evasion and circumvention.

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