Politics
11:40, 30-Jun-2017
US sanctions China's Bank of Dandong over DPRK
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The US Department of the Treasury on Thursday blacklisted a Chinese bank, which it claimed conducts illicit dealings with the Democratic People's Republic of Korea (DPRK).
The Treasury says that the Bank of Dandong is a "primary money-laundering concern" and a "conduit for illicit the DPRK's financial activity." It proposes to remove the bank from the US financial system, pending a 60-day review period.
The department also sanctioned two Chinese individuals and one Chinese company, Dalian Global Unity Shipping Co., Ltd., over allegations of illegal dealings with the DPRK.
Steven Mnuchin, US Treasury Secretary, at a White House press briefing in Washington, D.C., US, on June 29, 2017. /VCG Photo
Steven Mnuchin, US Treasury Secretary, at a White House press briefing in Washington, D.C., US, on June 29, 2017. /VCG Photo
"This is not directed at China. This is directed at a bank, as well as individuals and entities in China," said Treasury Secretary Steven Mnuchin.
The US is looking forward to continue working with the Chinese government to cut off the DPRK's illicit activities, he added.
The Chinese government has, on lots of occasions, reiterated its firm stance to promote denuclearization on the Korean Peninsula through dialogue and negotiation.
US President Donald Trump and South Korean President Moon Jae-in address the media prior to dinner as Moon's wife Kim Jeong-suk and Treasury Secretary Steven Mnuchin watch, in the State Dinning Room at the White House in Washington, D.C., US, on June 29, 2017. /VCG Photo
US President Donald Trump and South Korean President Moon Jae-in address the media prior to dinner as Moon's wife Kim Jeong-suk and Treasury Secretary Steven Mnuchin watch, in the State Dinning Room at the White House in Washington, D.C., US, on June 29, 2017. /VCG Photo
The Treasury's move came as South Korea's new president Moon Jae-in visited the US to discuss steps to push the DPRK to abandon its nuclear weapon and missile programs.
Moon arrived in Washington, D.C., late Wednesday on his first foreign visit since taking office earlier this month. Trump and Moon are scheduled to hold talks on Friday.
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