South Korea imposes sanction on 18 North Koreans to block Pyongyang’s illegal cash flow
Source :NewsBharati Date :06-Nov-2017
Seoul, November 6: In an attempt to block the road of Pyongyang’s illegal cash flow, South Korea imposed unilateral sanctions on 18 North Koreans on Monday. These 18 North Korean individuals cannot be involved in any financial transactions with South Koreans.
The persons upon whom the sanctions have been imposed are high-ranking employees who have been linked to North Korea’s nuclear and missile development program. They have also link with North’s foreign exchange procurement efforts. They belong to such North Korean financial institutions which already have been sanctioned by United Nations.
“We aim to encourage people to avoid problematic transactions with North Korea (through these sanctions) and to exercise caution with North Korea-related transactions in general,” said South Korea’s Unification Ministry spokesman Baek Tae-Hyun.
The series of sanctions on North Korea mainly have one aim. The measures will crash the hermit country’s economy which is already crashing. South Korea also expects this will contribute to blocking North Korea’s main sources of foreign exchange and its developing of weapons of mass destruction.