“The USA introduced sanctions against the financial network of the Russian Federation and the DPRK The USA introduced sanctions against individuals and companies involved in illegal financial transactions between the Russian Federation and the DPRK. The sanctions target a network linked to two North Korean state-sanctioned banks.”, — write on: unn.ua
Details
The agency explained that the illegal financial network between Moscow and Pyongyang, which is targeted by the new US sanctions, is connected to two state-sanctioned banks of the DPRK – the Foreign Trade Bank and the Korean Kwansong Banking Corporation.
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It is through these institutions that North Korea receives foreign currency to finance state programs to create weapons of mass destruction and ballistic missiles.
As it was found out in the USA, for transactions with these banks, the Central Bank of the Russian Federation used MRB Bank, which is located in South Ossetia occupied by Russia.
It played the role of a shell company for the Russian CSMRBank — its vice president Dmitry Nikulin opened accounts there for North Korean banks and “coordinated with North Korean representatives the transfers of millions of dollars and rubles in banknotes.”
MRB Bank used part of North Korean accounts to pay for fuel exports from Russia to the DPRK.
Also, the “Russian Financial Corporation” is also involved in financial schemes – together with the Foreign Trade Bank of the DPRK, they established a front company in Moscow, through which Pyongyang received funds.
In addition, the Russian Timer Bank participated in this scheme, which transferred millions of dollars to the Moscow company Stroytreyd LLC for the Foreign Trade Bank.
All property of the above individuals and legal entities, which is in the possession or under the control of US citizens, has been blocked. All organizations, which in one way or another were 50% or more owned by one or more under-sanctioned persons, were also blocked.
Today’s actions underline our deep concern about efforts by Russia and North Korea to deepen financial cooperation in violation of UN Security Council resolutions
We will remind
As I wrote UNN In the summer, during the visit of Russian President Vladimir Putin to Pyongyang, North Korea and Russia signed a strategic partnership agreement that deepens military cooperation and mutual defense obligations.
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