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US slaps sanctions on two N.Korean shipping companies

Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen testifies before the Senate Foreign Relations Committee on Capitol Hill, July 29, 2014 in Washington, DCThe United States imposed sanctions Wednesday on two North Korean shipping companies over their attempt to ship arms from Cuba to North Korea in violation of US and UN sanctions. Chongchongang Shipping Company and Ocean Maritime Management Company conspired to transfer a concealed shipment of arms and related materiel from Cuba to the Democratic People’s Republic of Korea aboard a North Korean-flagged cargo vessel in July 2013, the Treasury Department said in announcing the sanctions. State-owned Chongchongang Shipping owns and operates the cargo ship, Chong Chon Gang, which was found to be carrying undeclared containers of arms hidden under tons of sugar when it was stopped in the Panama Canal in July last year.

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