South Korea announced it would impose new sanctions against 40 individuals and 30 entities because of suspected links to North Korea’s weapons program and would ban vessels that had stopped at North Korean ports in the past 180 days.
Reuters reports that the new measures are designed to discourage shipping firms and trading companies from doing business with the North to further isolate it, South Korea said.
The decision to issue more unilateral sanctions against the North follows a U.N. Security Council resolution triggered by the isolate state’s fourth nuclear test in January and a long-range rocket launch last month.
The individuals subject to financial sanctions announced on Tuesday include a Singaporean and a Taiwan national who are heads of a shipping firm and a trading company, the government said.
South Korea also blacklisted a Thai shipping firm called Mariner’s Shipping & Trading and Taiwan company Royal Team Corporation.
South Korea will ban those on the list from engaging in financial transactions with South Korean entities and freeze assets that are held in the country, the government said.
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Reuters – South Korea issues new sanctions against North, bans ships via North ports
