Two North Korean Shipping Companies on U.S. Blacklist
kpride, Aug. 1, 2014, 10:27 a.m.
Two North Korean shipping companies have been put on blacklist for illegal arms deals. The U.S. Treasury Department made the announcement yesterday. They are Chongchongang Shipping, the operator of the North Korean cargo ship Chongchongang, and Ocean Maritime Management Company, the owner of the ship.
The measure will freeze their assets within U.S. jurisdiction and ban American companies and individuals from doing business with them. Back in July last year, the Chongchongang was caught trying to pass through the Panama Canal with 240 tons of old Soviet-made missiles, MiG-21 jet fighters parts and engines and other arms, hidden under sacks of sugar.
David Cohen, the Treasury's undersecretary for terrorism and financial intelligence, said, "The Chongchongang episode… is a perfect example of North Korea's deceptive activity, and precisely the sort of conduct that we are committed to disrupting."