Netizen 24 SGP: Companies in Asia have been supplying luxury goods to North Korea despite sanctions: Report

By On March 13, 2018

Companies in Asia have been supplying luxury goods to North Korea despite sanctions: Report

Members of the United Nations Security Council vote to impose new sanctions on North Korea on December 22, 2017.Spencer Platt | Getty Images Members of the United Nations Security Council vote to impose new sanctions on North Korea on December 22, 2017.

Two Singapore companies and others in Asia have been supplying luxury goods to North Korea hence violating sanctions, according to a leaked United Nations draft report, the BBC reported on Tuesday.

Both the UN as well as Singapore prohibit the sale of luxury goods to the communist state, and Singapore's government said it has started in vestigations into this case.

The two companies â€" OCN and T Specialist â€" share the same director, and have said they have done nothing wrong, according to BBC.

Trump: North Korea sanctions will remain until agreement finalized Trump: North Korea sanctions will remain until agreement finalized

The leaked draft report allegedly said that $2 million worth of sales proceeds have moved from both companies' bank account in North Korea to T Specialist's accounts in Singapore.

The UN has also accused the two companies of having "longstanding, close ties" with Ryugyong Commercial Bank, which has been on the U.S sanctions list since September 26 last year, the BBC report said.

The lawyer for both companies, Edmond Pereira, hasdenied that they have any current financial relat ionship or other business ties with anyone in North Korea, except for those that took place before UN sanctions came into effect, according to BBC.

Read the BBC for more on the leaked UN report.

Source: Google News

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