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Treasury Blacklists North Korean IT Cos. In China And Russia

Law360 (September 13, 2018, 8:02 PM EDT) -- The U.S. Department of the Treasury on Thursday sanctioned a North Korean individual and his China-based information technology company, as well as a Russian subsidiary, as part of its efforts to stop the flow of “illicit revenue” to North Korea from overseas.

The Treasury Department’s Office of Foreign Assets Control said in a statement that Americans would be “generally prohibited” from engaging with Jong Song Hwa, and his companies, China Silver Star and Volasys Silver Star. Although both companies purport to be from China and Russia,...
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