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US Adds Another NK Firm to Sanctions List

Written: 2009-07-31 07:37:27Updated: 0000-00-00 00:00:00

The United States has added another North Korean company to a list of entities, goods and individuals that will be subject to sanctions.

The U.S. Treasury Department announced Friday that it has placed the Korea Hyoksin Trading Corporation on its sanctions list for involvement in the development of weapons of mass destruction.

The recent designation prohibits U.S. companies and individuals from engaging in any transactions with the North Korean trading company, thereby isolating the firm from the U.S. financial and commercial systems.

Earlier in July, the U.N. Security Council designated the Korea Hyoksin Trading Corporation and its parent company, the Korea Ryonbong General Corporation, as entities that will face sanctions for involvement in the development of weapons of mass destruction.

According to the Treasury Department, the Korea Ryonbong General Corporation specializes in acquisition for North Korean defense industries and support to Pyongyang's military-related sales.



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