The United States has announced sanctions on two individuals and one entity in an effort to curb money laundering operations linked to the Democratic People’s Republic of Korea (DPRK). The sanctions, implemented under Executive Order 13382, are aimed at disrupting networks that finance the DPRK's weapons of mass destruction and ballistic missile programs.
Lu Huaying and Zhang Jian, both nationals of the People’s Republic of China (PRC) residing in the United Arab Emirates (UAE), have been identified as facilitators of money laundering and cryptocurrency conversion services benefiting the DPRK or its proxies. Additionally, Green Alpine Trading, LLC, a front company based in the UAE, is implicated in laundering millions for this network. The operation is reportedly led by Sim Hyon Sop, a DPRK banking representative previously designated by U.S. authorities and now operating from the PRC.
Department Spokesperson Matthew Miller stated that "the United States will continue to act against proliferation and associated money laundering activities of concern." These actions form part of ongoing efforts to counteract illicit financial activities tied to North Korea.
Further details on these measures can be found in a press release issued by the Department of the Treasury.
