US action against North Korea’s ballistic missile test
The US has taken a major action against North Korea’s missile test program. The Biden government has banned two Russian banks, a North Korean company and a person for supporting North Korea’s nuclear test. The US move comes a day after China and Russia backed North Korea.
Ban on two Russian banks for financial aid
The US Treasury Department said in a statement that it has banned Air Koryo Trading Corp, as well as Russian financial institutions Far Eastern Bank and Sputnik Bank, for contributing to procurement and revenue generation for North Korean organizations.
Action on SANS representative too
Washington has banned Jong Yong, a Belarus-based representative of an organization subordinate to the North Korea Second Academy of Natural Sciences (SANS), for supporting North Korean organizations involved in the development of ballistic missiles.
Under Secretary of the US Treasury Terrorism and Financial Intelligence, Brian Nelson, in a statement also warned North Korea. He said that if Kim Jong Un does not desist from his antics, then such restrictions can be imposed. North Korea has conducted six tests of an intercontinental ballistic missile (ICBM) this year and Pyongyang is preparing to conduct its first nuclear test since 2017.
China and Russia protect North Korea from veto
Let us tell you that China and Russia vetoed the US proposal to increase sanctions on North Korea in the United Nations Security Council. Wherein India supported it. Significantly, the US proposal came in protest against North Korea’s recent three missile tests and it talked about banning many products including crude oil to tobacco.
