Singaporean Firm Sanctioned For Supporting North Korean Arms Imports

The US has imposed unilateral economic sanctions on a Singaporean shipping company accusing them of supporting North Korean company to import concealed arms shipment and related materials.

Senat Shipping Company has been sanctioned for alleged support to North Korean Ocean Maritime Management Company which is already facing sanctions for attempting to import weaponry to the communist nation.

US Treasury department also sanction Senat’s president, Leonard Lai for supporting the North Korean firm. 

"Arms shipments transported by OMMC serve as a key resource for North Korea's ongoing proliferation activities. Sales from these shipments contribute to North Korea's other illicit programs," Acting Undersecretary for Terrorism and Financial Intelligence Adam J. Szubin was quoted as saying by Yonhap news agency Thursday.

"We are working to make it as challenging as possible for North Korea to continue its unlawful behavior by actively targeting anyone or any business that supports these illicit arms transfers," he said.

The sanctions call for freezing "any property or interests in property of the designated persons that are or come within US jurisdiction." In addition, transactions by Americans or people within the US involving the property of designated people, including the identified vessel, are prohibited under the measures.