- The Washington Times - Thursday, July 30, 2009

The Obama administration on Thursday imposed financial sanctions on a North Korean firm accused of aiding Pyongyang’s nuclear weapons program.

It is the latest move by the United States to pressure North Korea to abandon its nuclear ambitions, which have raised tensions across the region.

The Treasury Department announced it has frozen the U.S. assets of the Korea Hyoksin Trading Corp., whose parent company was accused by the United Nations earlier this month of supporting North Korea’s push for weapons of mass destruction (WMD).

The Treasury ruling prohibits Americans or U.S. firms from engaging in any transactions with the company, a move aimed at isolating it from U.S. financial and commercial systems.

“The world community is taking forceful action against the arms and agencies of North Koreas WMD and missile programs,” said Treasury’s Office of Foreign Assets Control Director Adam J. Szubin. “We will continue to do our part to identify and sanction such entities.”

The Korea Ryonbong General Corp., which controls Hyoksin Trading and also has been sanctioned, specializes in acquisitions for North Korean defense industries and supports Pyongyang’s military-related export sales.


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