The United States expanded its sanctions targeting North Korea on Tuesday, in order to stop illicit arms proliferation and financing, the Office of Foreign Assets Control announced.
The new sanctions bar American citizens and companies from engaging with the Strategic Rocket Force, two international banking representatives and three shipping companies that are linked to arms proliferation by North Korea. The sanctions will also freeze US assets the blacklisted companies and individuals may have.
Some officials from previously sanctioned North Korean banks were also blacklisted.
North Korea’s the Tanchon Commercial Bank and arms exporter the Korea Mining and Development Trading Corporation are among the sanctioned institutions.
The Tanchon Commercial Bank and arms exporter the Korea Mining and Development Trading Corporation are among the sanctioned ones within the framework of a second wave of sanctions by the US Treasury Department in four weeks.
The US accuses the shipping companies of transporting illicit arms and the Strategic Rocket Force of performing missile tests in 2014.
Adam Szubin from secretary for terrorism and financial intelligence said that North Korea was threatening international peace and security by expanding its nuclear program and continuing its proliferation of weapons of mass destruction and conventional weapons.
"Treasury is committed to exposing North Korea's global proliferation network and excluding these facilitators from the international financial system." he said.