US blacklists Russian bank over North Korea sanctions

By Michael Hernandez

WASHINGTON (AA) - The U.S. on Friday blacklisted a Russian bank, an individual and two entities for allegedly working to circumvent U.S. and UN sanctions.

Russia's Agrosoyuz Commercial Bank was sanctioned for facilitating a "significant transaction" with Han Jang Su, whom the Treasury Department said is the Moscow-based chief representative of North Korea’s main foreign exchange bank.

Han was designated by the U.S. in March 2017, and his bank, known as Foreign Trade Bank, was sanctioned in 2013. He was later sanctioned by the UN in August 2017.

The Treasury Department further sanctioned Ri Jong Won, Han's deputy, on Friday.

The U.S. said under a 2016 UN Security Council resolution Han and Ri should be expelled from Russia because it has determined they work on behalf of a North Korean bank or financial institution.

The Treasury Department further designated what it called two "front companies" for the North's Foreign Trade Bank: Dandong Zhongsheng Industry & Trade Co., and Korea Ungum Corporation.

“The United States will continue to enforce UN and U.S. sanctions and shut down illicit revenue streams to North Korea. Our sanctions will remain in place until we have achieved the final, fully-verified denuclearization of North Korea,” Treasury Secretary Steven Mnuchin said in a statement.