US sanctions entities for alleged NKorea violations

WASHINGTON

The U.S. on Friday sanctioned two people and three entities it said have been involved in circumventing sanctions on North Korea.

The Treasury Department alleges that the people and firms subject to sanctions were involved in a network of illegal ship-to-ship oil transfers that sought to circumvent UN sanctions on Pyongyang.

Among those blacklisted were Taiwan-based individuals Huang Wang Ken and Chen Mei Hsiang, as well as two companies based in Taiwan -- Jui Pang Shipping Co, and Jui Zong Ship Management Co.

Hong Kong-based Jui Cheng Shipping Company Limited was also designated.

“Treasury will implement and enforce existing US and UN sanctions on individuals, entities, and vessels involved in illicit ship-to-ship transfers with North Korean flagged vessels,” Sigal Mandelker, the Treasury Department's top financial intelligence official, said in a statement announcing the actions.

"Shipping companies trading with North Korea are exposing themselves to significant sanctions risk, despite the deceptive practices they try to employ,” she added.

The department also listed the Shang Yuan Bao shipping vessel as blocked property. It said all of the designated parties have an interest in the ship.

As a result of the designations, U.S. individuals and entities are prohibited from doing business with the sanctioned parties, and any assets they control subject to U.S. jurisdiction have been frozen.

WASHINGTON

The U.S. on Friday sanctioned two people and three entities it said have been involved in circumventing sanctions on North Korea.

The Treasury Department alleges that the people and firms subject to sanctions were involved in a network of illegal ship-to-ship oil transfers that sought to circumvent UN sanctions on Pyongyang.

Among those blacklisted were Taiwan-based individuals Huang Wang Ken and Chen Mei Hsiang, as well as two companies based in Taiwan -- Jui Pang Shipping Co, and Jui Zong Ship Management Co.

Hong Kong-based Jui Cheng Shipping Company Limited was also designated.

"Shipping companies trading with North Korea are exposing themselves to significant sanctions risk, despite the deceptive practices they try to employ,” she added.

The department also listed the Shang Yuan Bao shipping vessel as blocked property. It said all of the designated parties have an interest in the ship.