U.S.: New Sanctions Against North Korea Target China, Too

The U.S. Department of the Treasury unveiled new sanctions June 29 targeting Chinese entities allegedly acting as fronts for North Korean interests, including the Dalian Global Unity Shipping Company and two Chinese nationals. Most notably, the Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued a proposal to bar U.S. institutions from transacting with the Chinese-run Bank of Dandong, which it accuses of carrying out money laundering for the North Korean government. This would require a two-month comment period before going into effect....