08.22.17

Gardner Applauds New Sanctions Targeting Russian and Chinese Entities Aiding North Korea

Washington, D.C. – Senator Cory Gardner (R-CO), Chairman of the Subcommittee on East Asia, the Pacific, and International Cybersecurity applauded new sanctions announced today by the Treasury Department against 10 entities and six individuals that are directly and indirectly aiding the North Korean regime.  The companies and individuals being sanctioned are based in China, Russia, and Singapore.

“I applaud this step by the Administration to impose long-overdue sanctions on these Russian and Chinese entities,” said Gardner. “However, we need to do more – much more – in imposing penalties on all North Korean enablers, no matter where they are based.  We must give every entity doing business with Pyongyang a choice – you either do business with this outlaw regime or the world’s economic superpower.”

Included in the sanctions announced today are businesses and individuals that have allowed for hundreds of billions of dollars in economic activity for North Korea over the last few years. Some of the businesses purchase billions of dollars in coal, while others enable North Korea to launder money through them.

“When North Korea receives money from foreign businesses, they don’t turn around and give it to their starving people,” continued Gardner. “Kim Jong Un puts it into his nuclear and ballistic missile programs. One of the most effective ways in stopping these weapons advancements is to choke off their financial support across the world.”

Gardner has called for stronger actions by the Administration in sanctioning anyone aiding North Korea. He recently introduced bipartisan legislation that would ban any entity that does business with North Korea or its enablers from using the United States financial system. One of the sanctioned businesses announced today is named in Gardner’s legislation.

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