Treasury Sanctions Chinese Companies for Illicit N. Korea Trade

Treasury Secretary Steven Mnuchin

The Treasury Department on Thursday imposed sanctions on two Chinese companies linked to illicit cargo transfers to North Korea in violation of U.S. and U.N. sanctions.

The two companies, Dalian Haibo International Freight Co. Ltd., and Liaoning Danxing International Forwarding Co. Ltd., helped Pyongyang evade sanctions by facilitating ship-to-ship transfers of refined petroleum and other acquisitions that violate sanctions.

North Korea Covertly Building Missiles, Nuclear Arms at Civilian Sites

Kim Jong Un

North Korea is covertly developing and testing nuclear arms and ballistic missiles at civilian facilities in a bid to prevent a “decapitation” military strike against its weapons plants and storage depots, according to a report by a UN panel of experts.

Additionally, the Security Council panel stated in the experts’ latest report that North Korea engaged in “massive” illegal transfers of oil and coal in violation of sanctions designed to punish Pyongyang for nuclear and missile development.

North Korea Warns of ‘New Path’, But Options Limited

North Korean leader Kim Jong Un poses for photos in Pyongyang

SEOUL (Reuters) – In his New Year address on Tuesday, North Korean leader Kim Jong Un warned he might take a “new path” if Washington maintains sanctions amid his country’s push for economic development, but experts say it may be too late to change the trajectory of negotiations.