Irina Pogorelaya21:27, 25.07.24

The administration of US President Joe Biden accuses Pyongyang of supplying ballistic missiles to Russia for use in the war against Ukraine.

The US Treasury Department has imposed financial sanctions on Chinese companies and their executives for supplying missile and space products to North Korea.

The sanctions announced by the Treasury Department’s Office of Foreign Assets Control are symbolic because most companies and people involved in the missile industry are unlikely to have assets in the United States. Financial institutions are also prohibited from doing business with individuals subject to the new sanctions, The Washington Times reports .

“The ultimate goal of sanctions is not to punish, but to induce positive changes in behavior,” the Treasury said in a statement. The sanctions target six individuals and five companies.The administration of US President Joe Biden accuses Pyongyang of supplying ballistic missiles to Russia for use in the war against Ukraine.

Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson said North Korea’s missile development and proliferation are “irresponsible and destabilizing to both the region and the international community.”

North Korea’s missile and space programs rely on foreign technology and components, and Pyongyang has established a vast network of overseas procurement agents, including Chinese nationals. Chinese companies also sell missile-related goods disguised as shipments to North Korea.

USA and DPRK

US presidential candidate  Donald Trump  has made a new cryptic statement hinting at Joe Biden’s failure as an American leader. He said that if the US has a “smart president”, Washington will have no enemies.

Thus, during a campaign rally in Virginia, Trump stated that Russia, China and the DPRK “do not respect” the current US president.

(C)UNIAN 2024