The U.S. Government is seeking fines totalling $11 million from companies they accuse of laundering money for North Korean banks who are the subject of sanctions.
Velmur Management Pte Ltd and Transatlantic Partners Pte Ltd, based in Singapore, as well as Chinese company Dandong Chengtai Trading Co. Ltd are said to have harboured money for banks to trade in petroleum and oil.
The Office of Foreign Assets Control has also imposed a series of new sanctions against a number of other Chinese and Russian companies who they suspect have ties with North Korea.
U.S. Attorney Channing Phillips said in a statement: “These complaints show our determination to stop North Korean sanctioned banks and their foreign financial facilitators from aiding North Korea in illegally accessing the United States financial system to obtain goods and services in the global market place.”
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