Two Singapore firms, individual sanctioned by U.S. over North Korea dealings
- 5 years ago
The U.S. is slapping more sanctions on those involved in shady dealings with North Korea.
The Treasury Department's measures target two Singapore-based companies and their chief for money laundering, shipping cash and narcotics, and more illicit activity on behalf of the regime.
Lee Seung-jae reports.
The U.S. Department of Treasury said Thursday that it's targeting Wee Tiong,... a commodities trading company,... WT Marine,... a marine fuels company,... and Tan Wee Beng,... a Singaporean national who serves in senior positions in both firms.
According to Treasury Secretary Steven Mnuchin,... Tan and his co-conspirators made deliberate efforts to launder money through the U.S. financial system on behalf of North Korea.
Mnuchin added the U.S. government "will not overlook" such deceptive practices,... and is "deeply committed to the final, fully verified denuclearization of North Korea",... as the Treasury will continue to enforce and implement sanctions until that time.
Forty-one-year-old Tan is accused of overseeing millions of dollars in commodities contracts for North Korea,... along with at least one other individual,... dating back to at least 2011.
WT Marine is closely related to Wee Tiong as two of its vessels -- the JW JEWEL and NYMEX STAR -- engaged in illicit economic activity linked to North Korea last year.
The sanctions impose a freeze on the property or interests of the designated entities, vessels, and persons within the U.S.
American citizens are also banned from dealing with them.
The designations are the latest actions taken by the U.S.,... in order to enforce UN sanctions on North Korea,... and pressure the regime into giving up its nuclear weapons and ballistic missile programs.
Lee Seung-jae, Arirang News.
The Treasury Department's measures target two Singapore-based companies and their chief for money laundering, shipping cash and narcotics, and more illicit activity on behalf of the regime.
Lee Seung-jae reports.
The U.S. Department of Treasury said Thursday that it's targeting Wee Tiong,... a commodities trading company,... WT Marine,... a marine fuels company,... and Tan Wee Beng,... a Singaporean national who serves in senior positions in both firms.
According to Treasury Secretary Steven Mnuchin,... Tan and his co-conspirators made deliberate efforts to launder money through the U.S. financial system on behalf of North Korea.
Mnuchin added the U.S. government "will not overlook" such deceptive practices,... and is "deeply committed to the final, fully verified denuclearization of North Korea",... as the Treasury will continue to enforce and implement sanctions until that time.
Forty-one-year-old Tan is accused of overseeing millions of dollars in commodities contracts for North Korea,... along with at least one other individual,... dating back to at least 2011.
WT Marine is closely related to Wee Tiong as two of its vessels -- the JW JEWEL and NYMEX STAR -- engaged in illicit economic activity linked to North Korea last year.
The sanctions impose a freeze on the property or interests of the designated entities, vessels, and persons within the U.S.
American citizens are also banned from dealing with them.
The designations are the latest actions taken by the U.S.,... in order to enforce UN sanctions on North Korea,... and pressure the regime into giving up its nuclear weapons and ballistic missile programs.
Lee Seung-jae, Arirang News.