US Treasury Department imposes sanctions against Russian bank
On Friday, the US Treasury Department imposed sanctions on a Russian bank, saying that the bank helped North Korea to circumvent the United Nations bans on the nuclear and missile programs of Pyongyang.
According to the US Department of Treasury, “Moscow’s Agrosoyuz Commercial Bank facilitated a significant transaction on behalf of an individual designated for weapons of mass destruction-related activities in connection with North Korea”.
The US Treasury’s press release states that the Russian Bank conducted or facilitated a significant transaction on behalf of Han Jang Su, the Moscow-based chief representative of Foreign Trade Bank (FTB), North Korea’s primary foreign exchange bank and Ri Jong Won, the Moscow-based deputy representative of FTB.
In addition to Agrosoyuz and Ri Jong Won, OFAC designated two associated FTB front companies: Dandong Zhongsheng Industry & Trade Co., Ltd. and Korea Ungum Corporation.