Politics 13-09-2018

US sanctioned a Russian company and another Chinese company for sending funds to North Korea

The US Treasury reported that the companies were part of a corporate network that aimed to send funds to Pyongyang from North Koreans abroad

" These measures are aimed at stopping the flow of illicit profits to North Korea from workers in the technology industry who work abroad hiding their authentic identities through shell companies ," the Secretary of the Treasury Department said in a statement. USA, Steven Mnuchin.

Those affected by this new battery of sanctions are the Chinese company Yanbian Silverstar Network Technology; its executive director, the North Korean Jong Song Hwa; and the Russian company Volasys Silver Star, associated with the first.

According to the Office of Foreign Assets Control of the Treasury (OFAC, in English), Yanbian Silverstar Network Technology is "officially" a Chinese technology company, which "in reality" is controlled and directed by North Korea and has obtained " million dollars "through contracts with companies of the Asian giant.

The US authorities also consider that Volasys Silver Star was founded by the company, "probably to help circumvent the identification requirements of self-employed workers and obfuscate the genuine nationality of North Korean employees."

As executive director of Yanbian Silverstar Network Technology, Jong Song Hwa controls the revenue stream of several developer teams in China and Russia, the statement said.

The sanctions establish the blockade of all the assets of these companies in the United States and prohibits any US citizen from doing business with any of them.


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