China says new USA sanctions 'won't help' N. Korea situation

China says new USA sanctions 'won't help' N. Korea situation

China says new USA sanctions 'won't help' N. Korea situation

Some of the prominent companies and individuals slapped with sanctions are China-based Dandong Rich Earth Trading Co, Moscow-based Gefest-M LLC and its director, Russian national Ruben Kirakosyan and China and Hong Kong-based Mingzheng International Trading Limited.

Tillerson said North Korea has not launched missiles or other provocations since the U.N. Security Council adopted a resolution against weapons development on August 5. "We only sell gardening products now [in the Chinese market]", he said.

The 16 affected entities either do business with previously sanctioned companies and people, work with the North Korean energy sector, help it place workers overseas or facilitate its evasion of global financial curbs. He was keen to clarify that the metal products the company bought were all perfectly legal.

He told reporters that demonstrated "a level of restraint that we have not seen in the past". "We only imported the products after going through customs clearance".

A manager surnamed Lan at Jinhou was reluctant to discuss the issue, but said he was unaware that the company had been sanctioned.

The other method of evasion more directly involves the front companies, according to the government.

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The US Treasury designated on Tuesday six Chinese-owned entities, one Russian, one North Korean and two based in Singapore. Ltd. laundered US dollars for sanctioned North Korean banks that were seeking to buy petroleum products from JSC Independent Petroleum Company, a blacklisted entity based in Russian Federation.

The Treasury's enforcement arm announced the sanctions Tuesday, which target 10 entities and six individuals from China and Russian Federation.

In early July, after tensions with Pyongyang escalated, USA prosecutors disclosed their effort to seize millions of dollars linked to North Korean entities from eight global banks.

In a press briefing on Wednesday, Chinese Foreign Ministry spokesman Hua Chunying slammed Washington's latest move.

"We are taking actions consistent with United Nations sanctions to show that there are consequences for defying sanctions and providing support to North Korea, and to deter this activity in the future", he said.

China reacted with irritation, saying Washington should "immediately correct its mistake" of imposing unilateral sanctions on Chinese companies and individuals to avoid damaging bilateral cooperation.

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