How Did China React to New US Sanctions on Chinese-Owned Enterprises?

Casey Dawson
August 25, 2017

A spokeswoman for China's Foreign Ministry said China "opposes the unilateral sanctions. especially the "long-arm jurisdiction" of the USA punishing Chinese people and companies based on US law.

The sanctions unveiled Tuesday effectively block those targeted from accessing much of the global financial system and freeze any USA assets as well.

"It is unacceptable for individuals and companies in China, Russia, and elsewhere to enable North Korea to generate income used to develop weapons of mass destruction".

The move follows toughened United Nations sanctions agreed this month after North Korea tested its first two intercontinental ballistic missiles in July.

The United States extended sanction list on North Korea and added the Moscow-based Gefest-M company and four individuals.

Michael Duitsman, a research associate with the U.S. Center for Nonproliferation Studies, suggested Wednesday that it is "possible" North Korea is using the same fiber for its solid rocket casing as the one confiscated by Russian Federation late past year, implying that Moscow could be illegally supporting Pyongyang's missile program.

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"Unless the two countries can truly reach agreement on rules of the road, then North Korea will take advantage of these differences, and this will be highly detrimental to the vital interests of both the U.S. and China", Pollack told China Daily on Tuesday.

But that hasn't seemed to stop North Korean leader Kim Jong-un from forging ahead with the country's weapons development program.

"The US action will not help find a solution to the problem". Kim puts over 95 percent of the foreign currency earned from coal exports to North Korea's military and weapons programs, the defector said. Ltd. laundered US dollars for sanctioned North Korean banks that were seeking to buy petroleum products from JSC Independent Petroleum Company, a blacklisted entity based in Russian Federation.

In June, the US Treasury sanctioned Bank of Dandong, Dalian Global Unity Shipping Co and two Chinese nationals for their alleged links to the North Korean government.

The US Justice Department is also seeking forfeitures of $11 million from firms that allegedly laundered money for North Korean banks.

Escalating trade sanctions enacted by the USA and the U.N. Security Council since 2006 have been accompanied at times by rhetoric suggesting that the regime of Kim Jong Un had been cut off from the world's economy. USA investigators allege Maison Trading is a front company operated by a Dandong Chengtai employee.

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