The U.S. Treasury Department has blacklisted North Korea’s Bank of East Land for its alleged involvement in Pyongyang’s illegal weapons trade.

The U.S. authority has frozen the North Korean bank's assets in U.S. territory.

Acting Undersecretary for Terrorism and Financial Crimes David Cohen said in a statement Tuesday that the designation of the Bank of East Land "exposes North Korea's efforts to circumvent sanctions to conduct illicit activities and degrades its ability to abuse the international financial system."

The department’s recent decision falls in line with Executive Order 13551, which enables the U.S. to further blacklist individuals, business firms or organizations that are suspected of being involved in the North’s illegal activities, including trading weapons or luxury items. The executive order was issued last August several months after the North’s sinking of the South Korean naval ship “Cheonan.”

The department alleged that the North Korean bank had facilitated financial transactions for Green Pine, a North Korean company sanctioned under Executive Order 13551 for exporting arms or related materials, as well as for designated Iranian financial institutions, including Bank Melli and Bank Sepah, in 2007 and 2008.