US Slaps Sanctions on Singapore Shipping Firm over North Korea Links
By Aiswarya Lakshmi
Friday, July 24, 2015
The United States imposed sanctions on a Singapore-based shipping firm and its president, alleging they are supporting illicit arms imports into North Korea.
The Treasury Department said that Senat Shipping Company was providing extensive support to Ocean Maritime Management Company (OMMC), a North Korean company that already was under sanctions.
“Arms shipments transported by OMMC serve as a key resource for North Korea’s ongoing proliferation activities. Sales from these shipments contribute to North Korea’s other illicit programs,” Acting Under Secretary for Terrorism and Financial Intelligence Adam J. Szubin said in a statement.
It also designated Senat's president, Leonard Lai, and identified as "blocked property" the "Dawnlight", a vessel owned by Senat.
“We are working to make it as challenging as possible for North Korea to continue its unlawful behavior by actively targeting anyone or any business that supports these illicit arms transfers,” Adam said.
A UN report released in February found in the months after the sanctions were imposed, 13 of the 14 ships controlled by OMMC changed their owners and managers, “effectively erasing” the company from a database kept by the International Maritime Organization.