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| China-Japan-Koreas |
| Treasury puts Nork bank on blacklist |
| 2009-11-02 |
| WASHINGTON (Reuters) – The U.S. Treasury Department blacklisted a North Korean bank on Friday, saying it was involved in North Korea's arms dealing. Treasury said in a statement that Amroggang Development Bank was being added to a list of proliferators of mass destruction because it was owned or controlled by North Korea's Tanchon Commercial Bank. Tanchon was previously hit with sanctions by both the United States and the United Nations Security Council for its involvement in Pyongyang's proliferation activities. Treasury said assets of Tanchon under U.S. jurisdiction are frozen and Americans are banned from any dealing with it. It said that Tanchon's president, Kim Tong Myong, also was being added to the list of weapons proliferators. Treasury described Amroggang as a Tanchon-related company run by Tanchon officials. It said Tanchon helps finance Korea Mining Development Corp's sales of ballistic missiles and has been involved in Komid's ballistic missile transactions with an Iranian industrial group. |
| Posted by:Steve White |
| #1 The Nork banks have been less of a threat to the US and more stable than all the institutions the Fed has had to bailout in the US that played 'Las Vegas' with derivatives and the fronts they constructed to hide the gambling behind the appearance of legitimate markets. You'd think the Fed would at least 'blacklist' some organizations and people in this country [or are they more afraid of their sponsors in Congress]. |
| Posted by: Procopius2k 2009-11-02 12:02 |