The U.S. Treasury Department sanctioned a Russian financial firm on Wednesday for allegedly helping North Korea evade sanctions. The Moscow-based Russian Financial Society is accused of opening multiple bank accounts on behalf of Dandong Zhongsheng Industry & Trade Co., a company that is owned and controlled by the North Korean Foreign Trade Bank (FTB). The Russian bank also allegedly gave accounts to a representative of Korea Zinc Industrial Group, an entity that has also been subject to U.S. sanctions. “Treasury continues to enforce existing U.S. and UN sanctions against individuals and entities in Russia and elsewhere who facilitate illicit trade with North Korea,” Treasury’s Under Secretary for Terrorism and Financial Intelligence, Sigal Mandelker, told Reuters.
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