25 August, 2017
"As for security, North Korea is one of the safest countries in the world".
Chinese foreign ministry on Wednesday warned that secondary sanctions by the us targeting Chinese firms linked to North Korea would not help in resolving in North Korean issue, and urged Washington to withdraw them.
Coupled with the United Nations Security Council resolution passed earlier this month, Tuesday's sanctions are meant to further isolate the entities outside of North Korea that are facilitating Pyongyang's nuclear ambitions.
That tension was defused after the DPRK said it will assess "the foolish and stupid conduct" of the USA before firing missiles toward Guam, and Trump then tweeted last Wednesday that "Kim Jong-un of North Korea made a very wise and well-reasoned decision".
"It is unacceptable for individuals and companies in China, Russia, and elsewhere to enable North Korea to generate income used to develop weapons of mass destruction and destabilize the region", CNN quoted Treasury Secretary Steven Mnuchin as saying. On July 4 and July 28, Pyongyang conducted tests of intercontinental ballistic missiles (ICBMs). Russian Federation has also not been a good faith partner on these issues.
"Trump's decisive action, coupled with my legislation to further punish businesses which support North Korean cyberattacks, sends a strong message".
The list includes six Chinese companies, a Russian company, and four Russian individuals, as well as a construction company based in Africa and two Singapore-based companies that allegedly sell oil to North Korea.
"It's really forcing firms to decide are you going to deal with these shady North Korea financial institutions or firms or do you care more about having access to the USA market", said Boydston.
The reason for introduction of sanctions was cooperation with companies from North Korea, the OFAC said in its statement.
Also targeted is China's Dandong Rich Earth Trading Co.
As a result of this action, any property or interests in property of the designated persons in the possession or control of USA individuals, or within the United States, must be blocked, and U.S. individuals are generally prohibited from dealing with them.
The Treasury also designated three Chinese coal companies collectively responsible for importing almost half a billion dollars' worth of North Korean coal between 2013 and 2016.
