UN imposes sanctions on North Korean companies, individuals (Roundup)

Jul 16, 2009, 19:32 GMT

New York - A United Nations Security Council panel on Thursday put five companies, including one based in Iran, and five North Koreans under UN sanctions because of their links to Pyongyang's nuclear and ballistic missile activities.

The 15-nation council's sanctions panel also banned two goods to be imported by North Korea: Graphite designed or specified for use in Electrical Discharge Machining (EDM) machines and para-aramid fiber (Kevlar), filament and tape.

The panel took the decision based on a resolution adopted in June by the council, which decreed a comprehensive sanctions regime against Pyongyang for exploding a nuclear device on May 25 and for test-firing ballistic missiles. It was North Korea's second nuclear test since 2006.

The sanctions in the form of a freeze on assets will take place immediately, said Japanese Ambassador Yukio Takasu, whose country felt directly threatened by Pyongyang's nuclear activities.

'The decision by the North Korean sanctions committee is formal and final,' Takasu told reporters.

Takasu said the decision, like other UN Security Council resolutions, is binding on UN members.

The panel imposed a freeze of assets belonging to Namchongang Trading Company, Hong Kong Electronics, Korea Hyoksin Trading Corporation, General Bureau of Atomic Energy and Korean Tangun Trading Corporation.

Hong Kong Electronics is located in Kish Island, Iran, while the other four companies are in North Korea.

The five North Koreans are: Yun Ho-jin, director of Namchongang Trading; Ri Je-son and Hwang Suk-Hwa, both directors of separate departments in the General Bureau of Atomic Energy; RiHong-sop, former director of Yongbyon Nuclear Research Centre; Han Yu-ro, director of Korea Ryongaksan General Trading Corporation.

The individuals' assets will be frozen and they will be banned from travelling abroad.

The panel said it will continue to work to indentify other companies that work or act on behalf of the five companies singled out for sanctions.

The panel said Hong Kong Electronics had transferred 'millions of dollars of proliferation-related funds' on behalf of Tanchon Commercial Bank and a North Korean company, called KOMID.

'Hong Kong Electronics has facilitated the movement of money from Iran to the Democratic People's Republic of Korea and on behalf of KOMID,' the panel said.

The Security Council on June 11 strengthened and enlarged an arms embargo against North Korea for exploding the nuclear device.

Other measures adopted by the council included interdiction at sea, land and air of craft suspected of carrying banned nuclear materials or weapons to and from North Korea; provisions of fuel or supplies, or vessel services to North Korea and prevention of financial services or transfer of funds to and from North Korea.