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US sanctions two North Korean shipping companies

IANS | Last Updated: Thursday, July 31, 2014 - 11:11

Washington: The US government has imposed sanctions on two North Korean shipping companies for their attempt to import arms and related material from Cuba last year.

The sanctions were imposed Wednesday on Chongchongang Shipping Company and Ocean Maritime Management Company, the US Department of Treasury said in a statement.

According to the statement, the shipment included various components of surface-to-air missile systems and launchers, MiG-21 jet fighters parts and engines, shell casings, and rocket propelled projectiles, Xinhua reported.

The cargo was falsely declared to be sugar and spare plastic sacks and was camouflaged and hidden under 200,000 bags of sugar when the vessel entered the Panama Canal in July last year.

"North Korea uses shipping companies to engage in arms trading in violation of US and international sanctions," Secretary for Terrorism and Financial Intelligence, David Cohen said.

The Treasury`s sanctions freezes all assets of the entities targeted and bars American citizens from making transactions with them.

First Published: Thursday, July 31, 2014 - 11:11

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