OFAC Sanctions Contributors to North Korean WMD Development

OFAC sanctioned an individual, two banks and a trading company for their ongoing support of North Korea's ("DPRK") development of weapons of mass destruction and ballistic missile programs. The action targets two North Korean entities that directly supported DPRK organizations that are linked to the development of ballistic missiles or that contributed to procurement and revenue generation for those DPRK organizations.

OFAC sanctioned:

• Jong Yong Name, pursuant to EO 13382 ("Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters"), for acting on behalf of the Second Academy of Natural Sciences, which had previously been sanctioned by OFAC;

• Air Koryo Trading Corporation, pursuant to EO 13382, for providing financial, material, technological and other forms of support to the U.S.-sanctioned DPRK Ministry of Rocket Industry;

• Far Eastern Bank, pursuant to EO 13722 ("Blocking Property of the Government of North Korea and the Workers' Party of Korea, and Prohibiting Certain Transactions With Respect to North Korea"), for providing services in support of Air Koryo, the national airline of the DPRK which was previously sanctioned; and

• Bank Sputnik, pursuant to EO 13382, for providing support to the DPRK Foreign Trade Bank ("FTB") and holding a Russian ruble account for a U.S.-designated FTB front company.