Stock Groups

U.S. issues fresh North Korea sanctions after recent missile launches -Breaking

[ad_1]

© Reuters. FILE PHOTO – A North Korea flag is seen flying next to concertina wire in Kuala Lumpur on March 9, 2017, at the North Korean Embassy. REUTERS/Edgar Su//File Photo

By Daphne Psaledakis

WASHINGTON (Reuters), -Five entities were placed under sanctions by the United States for supporting North Korea’s weapons of destruction and missile program development. The move comes after a string of missile launches that have increased pressure on Pyongyang.

According to the U.S. Treasury Department, Friday’s action was directed at the Ministry of Rocket Industry. This is a North Korean organization that conducts weapons of mass destruction research and develops missiles.

The organization also named four subsidiaries: Hapjanggang Trading Corporation (Korean Rounsan Trading Corporation), Sungnisan Trading Corporation and Unchon Trading Corporation.

Following two North Korean ballistic missile test on Feb. 26, and March 4, this move was made in response to rising tensions. It involved a newly developed ICBM platform that North Korea is building, as well as the first ICBM test North Korea has conducted since 2017.

“The DPRK’s (Democratic People’s Republic of Korea’s) provocative ballistic missile tests represent a clear threat to regional and global security and are in blatant violation of UN Security Council resolutions,” Treasury Secretary Janet Yellen said in the statement.

“The United States is committed to using our sanctions authorities to respond to the DPRK’s continued development of weapons of mass destruction and ballistic missiles,” she said.

South Korean officials also report new construction at North’s last known nuclear testing site. This facility was closed in 2018

According to analysts and U.S. officials, there are growing signs that North Korea may soon test nuclear weapons for the first-time since 2017. This is in an effort to increase its political influence and improve its arsenal.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by the exchanges. They are instead provided by market makers. As such, prices could be incorrect and different from market price. This means that prices are only indicative and are not suitable for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]