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Exclusive: U.S. prepares new sanctions on Chinese firms over North Korea ties - officials
Reuters ^
| JULY 14, 2017
| Matt Spetalnick and David Brunnstrom
Posted on 07/15/2017 4:56:23 PM PDT by TigerLikesRooster
Exclusive: U.S. prepares new sanctions on Chinese firms over North Korea ties - officials
Matt Spetalnick and David Brunnstrom
WASHINGTON (Reuters) - Frustrated that China has not done more to rein in North Korea, the Trump administration could impose new sanctions on small Chinese banks and other firms doing business with Pyongyang within weeks, two senior U.S. officials said.
The U.S. measures would initially hit Chinese entities considered "low-hanging fruit," including smaller financial institutions and "shell" companies linked to North Koreas nuclear and missile programs, said one of the officials, while declining to name the targets.
It would leave larger Chinese banks untouched for now, the official said.
The timing and scope of the U.S. action will depend heavily on how China responds to pressure for tougher steps against North Korea when U.S. and Chinese officials meet for a high-level economic dialogue in Washington on Wednesday, the administration sources told Reuters.
(Excerpt) Read more at reuters.com ...
TOPICS: Foreign Affairs; News/Current Events
KEYWORDS: china; nkorea; sanction
To: TigerLikesRooster; AmericanInTokyo; Steel Wolf; nuconvert; MizSterious; endthematrix; ...
2
posted on
07/15/2017 4:58:19 PM PDT
by
TigerLikesRooster
(dead parakeet + lost fishing gear = freep all day)
To: TigerLikesRooster
U.S. probes China firm over North
By Seima Oki and Shuhei Kuromi / Yomiuri Shimbun Correspondents
WASHINGTON The administration of U.S. President Donald Trump has launched an investigation into a Chinese trading company over illicit dealings with North Korea, which continues its nuclear and missile development programs.
Washington plans to impose financial sanctions on the company if it finds sufficient evidence to prove the dealings.
Following a move to impose the first sanctions on a Chinese firm in late June, the Trump administration has further strengthened its pressure on Beijing.
The company in question is a Dandong, China-based trading firm.
According to documents disclosed by a federal district court in Washington, the company has been involved in the purchase of items related to Pyongyangs military equipment and weapons development.
The accumulated amount from the illegal transactions is believed to be more than $700 million (about ¥79 billion).
Documents were issued by the district court to allow the U.S. Justice Department to investigate the company.
Subsequently, the department began investigating accounts held by the company and its affiliates at eight financial institutions based in the United States, among other locations, to track down the flow of funds.
Investigators are monitoring deposits into each account, while preventing any withdrawals. The department is probing the case, with the possibility that it will file criminal charges against those involved in illicit dealings, including a Chinese national.
In September last year, under the administration of former U.S. President Barack Obama, the United States imposed financial sanctions on another trading company based in Dandong over illegal transactions with North Korea. The department filed criminal charges against the founder of the company and several others for money laundering.
In its report published in June, C4ADS, a U.S. research organization investigating global illegal transactions, described the company currently under investigation as a trader that had imported the most North Korean coal to China over the past three years. One of its affiliates is suspected of being involved in the transport of rocket ammunition as part of North Koreas arms exports, according to the report.
In late June, the Trump administration imposed financial sanctions on the Bank of Dandong in the Chinese city, among others, and prohibited it from having business dealings with U.S. financial institutions. Speech
3
posted on
07/15/2017 5:05:03 PM PDT
by
TigerLikesRooster
(dead parakeet + lost fishing gear = freep all day)
To: TigerLikesRooster
Doing exactly as Trump and Tillerson said they would do back in April if China didn’t get on Fat boy......staying the course.....pressing more and more.....step by step.
4
posted on
07/15/2017 5:32:35 PM PDT
by
caww
To: TigerLikesRooster
A good one:
Take a major Chinese bank off of the Int’l Banking System.
No new law required, and just a few keystrokes.
They did this to the tiny rogue PRC bank that specialized in doing stuff for NK.
Do it for a really big player and they will notice in a millisecond.
No need even for nasty words, THEY WILL UNDERSTAND.
5
posted on
07/15/2017 5:33:05 PM PDT
by
gaijin
To: gaijin
Wednesday should be interesting.
6
posted on
07/15/2017 6:25:35 PM PDT
by
tet68
( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
To: caww
Sounds like a town in China that makes nothing but doorbells!
7
posted on
07/15/2017 7:45:56 PM PDT
by
Datom
(Still runnin' "Against the Wind.")
To: caww
Sounds like a town in China that makes nothing but doorbells!
8
posted on
07/15/2017 7:46:00 PM PDT
by
Datom
(Still runnin' "Against the Wind.")
To: TigerLikesRooster
And, they are not just from RED CHINA. There are a BUNCH of companies doings dealings with these devils. Singapore comes to mind and high-end luxury goods which they are forbidding from dealing with by the UN. German, French, Italian firms, you name it. Probably even a few traitorous Japanese firms up there, who knows?
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