U.S. sanctions Russian, Chinese tech firms over funds for North Korea

U.S. sanctions Russian, Chinese tech firms over funds for North KoreaWASHINGTON/SEOUL (Reuters) – The United States on Thursday imposed sanctions on a China-based tech firm, its North Korean CEO and a Russian subsidiary, accusing them of moving illicit funding to North Korea in violation of U.S. sanctions. The new sanctions target China-based Yanbian Silverstar Network Technology Co, its North Korean chief executive Jong Song Hwa, and a Russian-based sister company, Volasys Silver Star, the U.S. Treasury Department said in a statement. “These actions are intended to stop the flow of illicit revenue to North Korea from overseas information technology workers disguising their true identities and hiding behind front companies, aliases, and third-party nationals,” Treasury Secretary Steven Mnuchin said in a statement.

Author: Droolin' Dog News Team