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The United States announced sanctions on Russian banks and South Ossetia.

The United States announced sanctions on Russian banks and South Ossetia.

The US Treasury Department has imposed sanctions on Russian citizen Dmitry Nikulin, as well as Russian banks Timer and Strojtrejd, and the Bank for International Settlements in South Ossetia, according to a written statement from the Treasury Department.

Designation freezes assets in the United States and prohibits U.S. citizens and companies from dealing with sanctioned individuals and entities.

According to Washington, the sanctioned individuals “enabled and supported ongoing efforts to establish illicit payment mechanisms between Russia and the DPRK.” They are said to have “assisted the DPRK and Russia in evading sanctions,” participated in “funding the DPRK’s illicit weapons of mass destruction and ballistic missile programs,” and supported Russian special operations in Ukraine.

“The growing financial cooperation between Russia and the DPRK directly threatens international security and the global financial system,” State Department spokesman Matthew Miller said in a press statement.

Sanctions were also imposed on a number of legal entities that were already subject to US restrictions. These include the Russian financial institution Transcapital Bank, the Centre for International Settlements (CMRBank LLC), and the Pyongyang-based Korea Kwangson Banking Corporation.

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