US announces sanctions for financial cooperation between Russia, North Korea

WASHINGTON

The US announced sanctions Thursday on five organizations and one individual for their alleged involvement in facilitating payments between Russia and North Korea in support of Moscow’s war in Ukraine and North Korea's weapons programs.

"Today’s action holds accountable parties that have assisted DPRK and Russian sanctions evasion and demonstrates Treasury’s commitment to exposing and disrupting networks that facilitate the funding of the DPRK’s unlawful weapons of mass destruction (WMD) and ballistic missile programs and support Russia’s illegal war against Ukraine," the Treasury Department said in a statement.

State Department spokesman Matthew Miller said in a separate statement that "growing financial cooperation" between Russia and North Korea threatens international security and the global financial system.

"Russia has become increasingly dependent on the DPRK (North Korea) as it faces mounting battlefield losses and increasing international isolation," said Miller.

The designated entities include the Central Bank of Russia, MRB Bank, based in Georgia’s South Ossetia region, and several associated Russian and South Ossetian financial institutions, as well as individuals like Dmitry Yuryevich Nikulin, who was allegedly involved in managing transactions for North Korean entities.

There were no immediate comments from Russia or North Korea.