Three shipping companies from Hong Kong and Taiwan have been sanctioned by the us.
The United States announced sanctions against two Taiwanese, two Taiwanese shipping companies and one Hong Kong shipping company for allegedly helping north Korea conduct "illegal ship-to-ship transshipment" (STS).
The U.S. Treasury Department office of foreign assets control (OFAC) local time on August 30, from the official website announced the sanctions list, including the Taiwanese Huang Wang root (Huang Wang Ken) and mei-hsiang Chen (Chen Mei Hsiang), and Shipping companies in Taiwan red nations Shipping (Jui Pang Shipping), shui rong Ship Management (Jui Zong Ship Management) and the Hong Kong Shipping Company rui Cheng Shipping (Jui Cheng Shipping Company).
The sanctions were imposed on the grounds that the individuals and business entities were suspected of helping north Korea evade United Nations sanctions restricting the import of oil products by illegally transferring oil products. The U.S. Treasury Department has placed it on its tier 2 sanctions list.
The Treasury Department's office of foreign assets control is understood to have frozen the assets of the three companies.
According to foreign media reports, the companies were involved in "at least one or more ACTS of importing or exporting goods, services or technologies to the DPRK".
Also sanctioned are huang wangen and Chen meixiang, a couple from Taiwan, and the Panamanian oil ship shangyuanbao, which was linked to them.
The us Treasury Department said that in 2018, huang wangen and Chen meixiang used the shangyuanbao to make at least two transshipments with north Korea. Between April and may of the same year, huang wangen and others transported 1.77 million liters of oil to the high seas by means of shangyuanbao, falsely claiming that the oil would be shipped to the Philippines. In fact, it was an illegal trade with PAEKMA, a north Korean ship listed on the UN security council's sanctions list.
U.S. Treasury undersecretary Sigal Mandelker said in a statement that companies dealing with north Korea are at significant risk of sanctions, despite attempts by shipping companies to cheat. The us Treasury Department will enforce existing us and UN sanctions on individuals, businesses and ships involved in illicit dealings with north Korea.
Under the rules, individuals on the sanctions list have their assets frozen in the us and cannot conduct financial transactions with us citizens. Companies on the sanctions list will also have their us assets frozen, and the us is likely to bar countries from dealing with ships belonging to those companies.
In march, the Treasury Department announced sanctions against two forwarders for "helping north Korea with shipping activities."
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