US imposes fresh sanctions on N. Korea in response to missile launches

Issued on: 01/04/2022 – 17:14

The U.S. Treasury Department in a statement said Friday’s action targets the Ministry of Rocket Industry, which it said is a North Korean weapons of mass destruction research and development organization directly linked to the development of new intercontinental ballistic missiles (ICBMs).

It also designated four of the organization’s subsidiaries – Hapjanggang Trading Corporation, Korea Rounsan Trading Corporation, Sungnisan Trading Corporation, and Unchon Trading Corporation.

The move follows a rise in tensions with North Korea following two ballistic missile tests on Feb. 26 and March 4 that involved a new ICBM system that North Korea is developing, and last week’s first full ICBM test conducted by North Korea since 2017.

“The DPRK’s (Democratic People’s Republic of Korea’s) provocative ballistic missile tests represent a clear threat to regional and global security and are in blatant violation of UN Security Council resolutions,” Treasury Secretary Janet Yellen said in the statement.

“The United States is committed to using our sanctions authorities to respond to the DPRK’s continued development of weapons of mass destruction and ballistic missiles,” she said.

South Korean officials have also reported new construction at the North’s only known nuclear test site, which was shuttered in 2018.

There are increasing signs that North Korea could soon test a nuclear weapon for the first time since 2017 in a bid to improve its arsenal and increase political pressure, U.S. and South Korean officials and analysts said.

(REUTERS)