China Responds to Sanctions Against Chinese, Russian Firms Aiding North Korea

The U.S. Treasury Department is 'targeting' North Korean weapons program supporters to put pressure on Pyongyang.
By Kinsey Grant ,

The Treasury Department announced new sanctions Tuesday against 10 Chinese and Russian companies and six individuals for their support of North Korean weapons programs, Reuters reported.

The companies and individuals that now face sanctions supported Pyongyang by dealing in North Korea's energy trade and helping sanctioned North Korean entities gain access to U.S. and international finance systems.

"Treasury will continue to increase pressure on North Korea by targeting those who support the advancement of nuclear and ballistic missile programs, and isolating them from the American financial system," Treasury Secretary Steven Mnuchin said in a statement.

China responded to the sanctions shortly after they were announced, calling on the U.S. to "immediately correct its mistake," according to an embassy spokesman. Bilateral cooperation could suffer unless the Treasury lifts the sanctions, the spokesman said.

More of What's Trending on TheStreet:

Loading ...