The United States today designated five entities and one individual involved in illicit payment mechanisms between Russia and the DPRK. This action exposes and disrupts networks that facilitate the funding of the DPRK's unlawful weapons of mass destruction and ballistic missile programs and that support Russia's illegal war against Ukraine.
The growing financial cooperation between Russia and the Democratic People's Republic of Korea (DPRK) directly threatens international security and the global financial system. Russia has become increasingly dependent on the DPRK as it faces mounting battlefield losses and increasing international isolation.
Today's sanctions demonstrate how Putin's regime is using illicit networks to enable rogue states like the DPRK to access the international banking system in violation of targeted financial sanctions required under United Nations Security Council Resolution (UNSCR) 1718 and a ban on correspondent relationships with DPRK banks under UNSCR 2270. The United States will continue to use the tools at its disposal to disrupt both Russia's support for the DPRK's illicit financial networks and its war against Ukraine.
The Department of the Treasury sanctions actions today were taken pursuant to counterterrorism authority Executive Order (E.O.) 13722, and E.O. 14024
