European Union adds nine people, four entities to North Korea sanctions list

Claudine Rigal
Août 10, 2017

In accordance with the United Nations resolution, the EU Council said in a statement released Thursday that it had added a further nine individuals, including the state-owned Foreign Trade Bank (FTB) to its sanctions list, taking the total number of blacklisted individuals to 103, plus 57 entities.

The move brings the European Union in line with new United Nations sanctions which now affect 62 people and 50 entities, the council said in a statement.

"This resolution was adopted on August 5, 2017 in response to the Democratic People's Republic of Korea (DPRK)'s ongoing nuclear-weapon and ballistic missile-development activities, in violation and flagrant disregard of previous UN Security Council resolutions", the European Council said.

Last month, North Korea tested two intercontinental ballistic missiles, at least one of which experts believe could reach deep into the continental U.S.

"This suggests to us that the Chinese military may be pulling more strings in Pyongyang than we had previously considered, hence their refusal to cut oil the supply to North Korea", the broker said in a research note sent to clients.

Following the meeting also attended by 26 other Asia-Pacific countries and major powers, it issued the chairman's statement in which they expressed "grave concern" over North Korea's escalation of tensions and urged it to fully comply with U.N. Security Council resolutions.

North Korea insisted earlier this week the strengthened sanctions would not force it to give up its nuclear weapons program.

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