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US hits Chinese firm with sanctions over N. Korea trade

Dandong Hongxiang did more than $530 million worth of trade with North Korea between 2011 and 2015, according to a report by the Asian Institute for Policy Studies in Seoul and C4ADS in WashingtonThe United States moved to tighten the economic noose around North Korea Monday, charging and sanctioning a firm owned by a prominent Chinese businesswoman for extensive trade ties with the regime. In a move designed to choke-off North Korea’s external economic lifeline, the US government targeted 44-year-old Ma Xiaohong and her vast conglomerate based in China’s frontier city of Dandong. The firm, Dandong Hongxiang, and a host of officials are accused of making up a “key illicit network supporting North Korea’s weapons proliferation,” according to Treasury sanctions tsar Adam Szubin.

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