US Sanctions North Korean Bank for Aiding WMD Program

Law360, New York (March 11, 2013, 8:56 PM EDT) -- The U.S. Treasury Department on Monday announced it was slapping North Korea's primary foreign exchange bank with sanctions as part of an international effort to tighten restrictions on Pyongyang's trade and banking activity since its Feb. 12 nuclear weapon test.

The sanctions against the state-owned Foreign Trade Bank target “a key financial node in North Korea’s [weapons of mass destruction] apparatus” and cut it off from the U.S. financial system by prohibiting transactions with any U.S. person and freezing any assets under U.S. jurisdiction, the Treasury...
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