Tuesday, the U.S. Treasury Department imposed sanctions on 10 entities and six individuals. The sanctioned parties are Singaporean, Russian, and Chinese and had, according to Treasury, aided North Korea’s ballistic missile and nuclear weapons efforts. First among the targets should be one of China’s so-called Big Four banks, perhaps the Bank of China. Experts, like former State Department sanctions coordinator Dan Fried, believe Washington should warn Beijing before moving against Chinese banks. On September 26 of last year, the Justice Department announced the forfeiture of funds from 25 Chinese bank accounts.

Source: Forbes August 27, 2017 03:56 UTC