us treasury sanctions chinese bank for illegal nkorea activity
Last Updated : GMT 06:49:16
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Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

US Treasury sanctions Chinese bank for illegal N.Korea activity

Arab Today, arab today

Arab Today, arab today US Treasury sanctions Chinese bank for illegal N.Korea activity

US Treasury sanctions Chinese bank for illegal N.Korea activity
Washington - Arab Today

The US Treasury Department on Thursday slapped sanctions on a Chinese bank over illicit activities in North Korea, including facilitating the production of weapons of mass destruction.

Bank of Dandong which "acts as a conduit for illicit North Korean financial activity, is a foreign bank of primary money laundering concern," and will be severed from the US financial system, the Treasury said in a statement.

Treasury Secretary Steven Mnuchin said the move was not targeted at the Chinese government.

"This is not directed at China, this is directed at a bank," he told reporters.

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