Australia puts North Korean firm Puhung Trading under financial sanctions
According to a document from Australian Foreign Minister Marise Payne dated March 1, the North Korean firm Pyongyang-based Puhung Trading Corp. has been added to Australia’s list of entities under financial sanctions, which restrict the use of their assets.
Australia has imposed its own sanctions against a North Korean trading company linked with the “secretive” nation’s development of weapons of mass destruction, as well as Chinese and Russian companies accused of helping Pyongyang shun international sanctions, the government document says.
“The Minister made the designations being satisfied that one of the entities (Puhung Trading Corporation) has been associated with the DPRK’s weapons of mass destruction program or missiles program,” a separate ministry statement read, using the acronym of the North’s official name, the Democratic People’s Republic of Korea.
It added that China-based Dandong Rich Earth Trading Company Limited and Russia-based Profinet Pte Ltd have also been included in the sanctions list for assisting or having assisted in North Korea’s violation or evasion of international sanctions. Dandong Rich Earth Trading and Profinet were targeted by US sanctions in 2017 and 2018, respectively.
[With Inputs from IANS]
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