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U.S. targets Singapore, Marshall Islands-based firms in new North Korea sanctions

By Daphne Psaledakis and David Brunnstrom WASHINGTON (Reuters) - The United States on Friday imposed new sanctions following North Korea's latest missile launches this week,...

By Daphne Psaledakis and David Brunnstrom

WASHINGTON (Reuters) - The United States on Friday imposed new sanctions following North Korea's latest missile launches this week, targeting a fuel procurement network that Washington said supports Pyongyang's weapons programs and its military.

Friday's action targeted two Singapore-registered companies and a Marshall Islands-registered company, the U.S. Treasury Department said in a statement, as Washington seeks to hold North Korea accountable for ship-to-ship transfers that circumvent United Nations sanctions on the country.

“The DPRK’s (North Korea's) long-range ballistic missile launches, including over Japan, demonstrate a continued disregard for United Nations Security Council resolutions,” the Treasury's Brian Nelson, Under Secretary for Terrorism and Financial Intelligence, said in the statement.

“The United States will continue to enforce multilateral sanctions and pursue the DPRK’s sanctions evasion efforts worldwide, including by designating those who support these activities.”

North Korea fired two short-range ballistic missiles into the sea on Thursday in the direction of Japan, after the return of a U.S. aircraft carrier to the region and a U.N. Security Council meeting in response to the North's recent launches.

The missile launch was the sixth in 12 days and the first since North Korea fired an intermediate-range missile (IRBM) over Japan on Tuesday, which prompted joint South Korean and U.S. missile drills during which one weapon crashed and burned.

The Treasury said it imposed sanctions on Singapore-based Kwek Kee Seng, Taiwan-based Chen Shih Huan and Marshall Islands-registered company New Eastern Shipping Co Ltd, accusing them of being involved in the ownership or management of a vessel that has participated in several deliveries of refined petroleum to North Korea.

Also designated were Singapore-registered Anfasar Trading (S) Pte. Ltd. and Singapore- registered Swanseas Port Services Pte. Ltd.

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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