Treasury Secretary Steven Mnuchin says the US remains committed to shutting down \u2018illicit revenue streams to North Korea\u2019<\/b>
\nThe United States on Friday imposed sanctions on a small Russian bank as well as Chinese and North Korean firms for handling financial transactions for North Korea in violation of United Nations bans aimed at pressuring Pyongyang to abandon its nuclear programme.
\u201cThe United States will continue to enforce UN and US sanctions and shut down illicit revenue streams to North Korea,\u201d Treasury Secretary Steven Mnuchin said in a statement.
\u201cOur sanctions will remain in place until we have achieved the final, fully verified denuclearisation of North Korea,\u201d he added.
The Treasury Department sanctioned Agrosoyuz Commercial Bank for facilitating a \u201csignificant transaction\u201d on behalf of an individual designated for weapons of mass destruction-related activities in connection with North Korea.
The Treasury said that the individual \u2013 Han Jang-su, the Moscow-based representative of Foreign Trade Bank (FTB), North Korea\u2019s primary foreign exchange bank \u2013 and his deputy, Ri Jong-won, should be expelled from Russia under UN Security Council resolutions on North Korea.
Agrosoyuz is Russia\u2019s 203rd largest bank with 11.3 billion rubles (US$179 million) in assets, according to Banki.ru.
Treasury said Agrosoyuz opened bank accounts for at least three front companies for FTB. It also processed more than $8 million for Korea United Development Bank, Treasury said.
Treasury also sanctioned what it said are two FTB front companies, the China-based Dandong Zhongsheng Industry & Trade Co and the Korea Ungum Corp, which is based in North Korea.
Additional reporting by Bloomberg<\/p>\n

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