Home GRASP GRASP/China China helps Russia thwart US bid to freeze bank’s assets over ‘North...

China helps Russia thwart US bid to freeze bank’s assets over ‘North Korea sanctions dodge’

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Beijing and Moscow show willingness to cooperate after US request for UN sanctions committee to act against Russian bank and North Korean official
China and Russia blocked a request from the United States to add a Russian bank to a United Nations sanctions blacklist along with a Moscow-based North Korean banker and two companies on Friday, in the latest move showing Beijing and Moscow are strengthening their political ties amid tensions with Washington.
The US last week asked the UN sanctions committee to place an asset freeze on Agrosoyuz Commercial Bank for allegedly helping North Korea to evade the UN-imposed restrictions on its financial transactions. The request also targeted Ri Jong-won, the deputy representative in Moscow of North Korea’s Foreign Trade Bank.
The UN blacklisted Ri’s employer, North Korea’s primary foreign exchange bank, in August last year.
The US’ request followed a US Treasury Department decision to impose unilateral sanctions on the Russian bank, the North Korean official and the two entities.
The two companies were named as Dandong Zhongsheng Industry & Trade Company, based in China, and the North Korea-based Korea Ungum Corporation.
In a response to the council, Russia raised doubts about the allegations, while China told the council that it objected to the proposed sanctions designations put forward by the US, according to diplomats.
China and Russia have also called on the council to consider easing sanctions to reward North Korea for opening up the dialogue with the US and halting missile tests, demonstrating their common interest in the region.
The Chinese foreign ministry said on Thursday that it is sending its top diplomat to Moscow next week to attend a bilateral strategic security consultation. Yang Jiechi, a member of China’s Communist Party Politburo, is expected to meet the Russian President Vladimir Putin during his four-day trip to seek closer ties as a hedge against the US’ aggressive approach on trade.
The announcement came after the US State Department’s decision on Wednesday to impose more sanctions on Russia, for breaching a chemical and biological warfare law by allegedly poisoning a former Russian agent in the UK earlier this year.

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