On Tuesday, September 26, the Office of Foreign Assets Control at the Treasury Department announced new sanctions on banks and representatives linked to North Korean financial networks. These sanctions come as a response to North Korea’s violations of UN resolutions and attempts to develop nuclear weapons.
OFAC identified 26 North Korean nationals working in China, Russia, Libya, and the UAE as representatives of North Korean banks. In addition, eight financial institutions were added to the Specially Designated Nationals list, several of which have branches in China.
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