Seoul imposes new trade sanctions against North Korea

March 8, 2016

South Korea said on Tuesday it will introduce a new set of sanctions against 40 individuals and 30 entities suspected of links to North Korea’s weapons program, Reuters reported. The individuals subject to financial sanctions reportedly include a Singaporean and a Taiwanese national. Seoul will ban vessels that have stopped at North Korean ports in the past 180 days. The new measures are aimed at discouraging shipping and trading companies from doing business with the North. Seoul will also cancel participation in a pilot project that brought Russian coal to South Korea through the North Korean port of Rajin, a Foreign Ministry official told reporters in a joint briefing with other government agencies.

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