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US imposes sanctions on N.Korean IT firms

IANS  |  Washington 

The US has imposed sanctions on two North Korean-controlled (IT) companies based in and Russia, accusing them of moving illicit funds to Pyongyang, the media reported.

"These actions are intended to stop the flow of illicit revenue to from overseas workers disguising their true identities and hiding behind front companies, aliases, and third-party nationals," said on Thursday.

The department designated the China-based Silver Star, its North Korean and its Russia-based sister company Volasys as such fronts, the News reported.

The sanctions come at a time when the US is maintaining pressure on the in its negotiations to denuclearize the

"The US will continue to fully enforce and implement sanctions until we have achieved the final, fully verified denuclearization of North Korea," Mnuchin said.

officials have acknowledged that there has been no progress on denuclearization, even as considers a second summit with North Korean leader

They met face-to-face during their historic summit in June in

On Wednesday, the said the US and allies are days away from launching a new effort to more publicly expose North Korean violations of sanctions aimed at curbing its nuclear and missile programs, defence officials tell

The US has been using sanctions to maintain pressure on to give up its nuclear weapons and ballistic missile programme, even as it continues to engage in diplomacy.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 14 2018. 08:48 IST
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