US imposes fresh sanctions on Chinese and North Korean companies

The Trump administration imposed new sanctions on a slew of North Korean shipping firms and Chinese trading companies on Tuesday in its latest push to isolate the rogue nation over its nuclear weapons development and deprive it of revenue.

The Treasury Department also designated a North Korean corporation involved in exporting workers overseas. The action came a day after the United States returned North Korea to its list of state sponsors of terrorism.

“These designations include companies that have engaged in trade with North Korea cumulatively worth hundreds of millions of dollars,” Treasury Secretary Steven Mnuchin said in a statement. “We are also sanctioning the shipping and transport companies, and their vessels, that facilitate North Korea’s trade and its deceptive manoeuvres.”

Among the companies targeted were four Chinese-based companies and one Chinese individual said to have deep commercial ties with North Korea. The sanctions were imposed under a September executive order that opened the way for the US to punish foreign companies dealing with the North. It bars those sanctioned from holding US assets or doing business with Americans.

The Dandong Kehua Economy & Trade Co Ltd, Dandong Xianghe Trading Co Ltd, and Dandong Hongda Trade Co Ltd are alleged to have exported about US$650 million worth of goods to North Korea and imported more than US$100 million from North Korea since 2013. The goods included notebook computers, anthracite coal, iron and other commodities and ferrous products.

Also sanctioned was Chinese national Sun Sidong and his company, Dandong Dongyuan Industrial Co, said to have exported more than US$28 million worth of goods to the North.