OFAC designated a Russian entity for helping a North Korean entity gain access to the international financial system.
According to OFAC, the Russian Financial Society provided financial services to the U.S.-sanctioned Dandong Zhongsheng Industry & Trade Co. Ltd, which is owned and controlled by North Korea's primary foreign exchange bank. All property and interest in property of the Russian Financial Society in the United States are now blocked and must be reported to OFAC. Additionally, all U.S. persons generally are prohibited from dealings that involve the Russian Financial Society.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
