The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced on Friday that it is sanctioning one individual, two Russian banks, and a North Korean trading company for their role in supporting North Korea's weapons of mass destruction and ballistic missile program, as well as the government.

A citizen of the DPRK, Chon Yong Nam, who has been in Minsk since 2019 and represents an organization subordinate to the Second Academy of Natural Sciences of the DPRK, which is under sanctions in connection with its participation in the development of weapons of mass destruction, was added to the sanctions list today..

In addition, the trading company Air Koryo Trading Corporation, which provided support to the Ministry of Missile Industry of the DPRK, was under sanctions..

OFAC also listed two Russian banks involved in transactions on behalf of North Korean entities: Far Eastern Bank, which provided services to the national airline.

Air Korea, and Sputnik Bank, which provided support to the DPRK Foreign Trade Bank, which previously fell under US sanctions.

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A new stage of sanctions was introduced due to the fact that on May 24, three missiles were launched from the territory of the DPRK, including one intercontinental ballistic missile..

This year, the DPRK launched 23 ballistic missiles, including six intercontinental ballistic missiles, all in violation of numerous United Nations Security Council resolutions..