US imposes new sanction to North Korea: Strategic Rocket Force added to the list

On Tuesday, the U.S. has imposed new financial sanctions targeting North Korea's Strategic Rocket Force. The sanction also includes two banks and three shipping companies that are allegedly involved in arms trade.

The sanction are against six individuals and several other companies that are linked to arms propagations. Among the targets are the financial arm of the Korea Mining and Development Trading Corporation and Tanchon Commercial Bank which is responsible for exports of North Korean arms. Foreign trade bank was also added to the sanction list.

According to BBC, the Strategic Rocket Force is accused of performing various missile tests last year. Shipping companies that are linked to other already sanctioned firms are accused of transporting illegal arms.

A statement on the U.S. treasury website said that, "The Strategic Force conducted multiple ballistic missile launches during 2014. Specifically, it conducted the launches of two short-range Scud-class ballistic missiles on March 3, test-fired two medium-range No Dong-class ballistic missiles on March 26, and conducted the launch of a short-range ballistic missile on July 26."

The treasury also said that, this action is taken pursuant to two Executive Orders (E.O.'s) related to North Korea. First, which targets proliferations of weapons of mass destruction and their supporters. The other, are those involved in North Korea's weapon trade.

According to the Wall Street Journal blog, the three shipping companies that were imposed sanctions include Haejin Ship Management Co., Pyongjin Ship Management Co. and Yongjin Ship Management Co.  These companies are owned or controlled by Ocean Maritime Management Co. which was targeted by the US in 2014.

Previously sanctioned officials of North Korean banks were also blacklisted by the US Treasury. The Treasury has imposed sanctions on North Korea second time in four weeks. According to New York Times, the imposed sanctions reflect concerns about its efforts to improve the capabilities of weapons and missiles despite United Nations prohibitions. The sanctions mainly captures any US assets that the blacklisted companies or the individuals have.