The U.S. Treasury's enforcement arm issued new sanctions Friday against Russia's Agrosoyuz bank for facilitating unlawful transactions with North Korea.
The Treasury's Office of Foreign Assets Control said the bank worked on behalf of Han Jang Su, a Moscow-based employee of North Korea's Foreign Trade Bank.
The Treasury said Agrosoyuz was involved in activities related to weapons of mass destruction in North Korea, in violation of existing and U.S. and United Nations sanctions.
Han had already been designated by OFAC, officials said.
OFAC said Agrosoyuz processed millions in transactions between 2009 and 2013 through accounts owned by North Korean commercial banks, including a transfer of $5.5 million on behalf of the since-designated Korea United Development Bank.
In 2014, officials said, Agrosoyuz and other Russian banks arranged to move KUDB funds and opened new accounts two years later for a North Korean front company. The Russian bank also processed over $8 million, and held the equivalent of $3 million, for KUDB.
This year, U.S. officials said, Agrosoyuz allowed a North Korean front company to invest almost $2.5 million in Russian rubles into one of its accounts.
Friday's ruling blocks the transfer of Agrosouyz property within the United States and forbids U.S. citizens from dealings with the institution.
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(Published by UPI, Aug 03, 2018)