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US Sanctions China-based Network for Helping N. Korea's Missile, Space Programs

Written: 2024-07-25 08:47:47Updated: 2024-07-25 10:21:23

US Sanctions China-based Network for Helping N. Korea's Missile, Space Programs

Photo : YONHAP News

The United States has imposed sanctions against a network of six individuals and five entities based in China for helping North Korea develop its ballistic missile and space programs.

The U.S. Treasury's Office of Foreign Assets Control(OFAC) on Thursday introduced sanctions on the individuals and entities in the so-called Shi Qianpei network for their alleged involvement in the procurement of items to bolster North Korea’s ballistic missile and space programs.

The Treasury said the action reaffirms that United Nations Security Council resolutions related to North Korea remain in full effect and reiterates the U.S.’ will to respond to sanctions evasion and strengthen sanctions enforcement efforts.

Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said the North’s continued development and proliferation of ballistic missile technologies in violation of UN sanctions "is both irresponsible and destabilizing for both the region and the international community." 

He added that the United States remains committed to using its tools to enforce these international sanctions, including disrupting the illicit procurement networks that provide key inputs for these technologies and holding accountable those who seek to enable these activities.

Those sanctioned will have their assets in the U.S. frozen and Americans will be prohibited from doing business with them.

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