Treasury Targets International Network Supporting North Korea's Nuclear Program

The United States has intensified its sanctions against North Korea, focusing on a network of bankers and financial entities accused of laundering illegal cryptocurrency profits to support the country's nuclear weapons ambitions. On Tuesday, the Treasury Department announced sanctions against eight people and two organizations, including North Korean bankers Jang Kuk Chol and Ho Jong Son, who are said to have overseen $5.3 million in cryptocurrency for the blacklisted First Credit Bank, as reported in a

. This action comes after a 138-page report revealed that North Korean cybercriminal operations have stolen more than $3 billion in digital assets over the last three years—an amount unmatched by any other foreign group, according to MarketBeat.

The Treasury's Office of Foreign Assets Control (OFAC) highlighted that North Korea depends on a vast international network of shell companies, financial agents, and banks in countries like China and Russia to move money acquired through cyber theft, fraudulent IT work, and sanctions violations, MarketBeat further explained. John K. Hurley, Under Secretary for Terrorism and Financial Intelligence, stated, "North Korean government-backed hackers steal and launder funds to finance the regime’s nuclear arsenal," emphasizing the administration’s commitment to dismantling these financial channels.

The sanctions also cover an international technology firm, Korea Mangyongdae Computer Technology Corp., as well as North Korea’s Ryujong Credit Bank, reflecting the Treasury’s broader approach, according to a

. Secondary sanctions target third parties who conduct forbidden transactions with blacklisted entities, aiming to discourage global banks and companies from facilitating North Korea’s financial dealings, Reuters noted.

At the same time, the U.S. is pushing for United Nations sanctions on seven vessels believed to be illegally shipping North Korean coal and iron ore to China. A State Department official described this initiative as vital for "holding violators of U.N. sanctions accountable and halting exports that directly support North Korea’s nuclear and missile programs," according to a

. These ships, which have generated between $200 million and $400 million a year for Pyongyang, are among the latest maritime targets under investigation. However, the Security Council’s 15-member sanctions committee must reach unanimous agreement, and North Korea’s allies—China and Russia—could block the proposal. Both nations have called for relaxing sanctions to encourage talks on denuclearization, as reported by .

The U.S. has repeatedly condemned North Korea’s efforts to bypass U.N. bans on exporting coal, iron, and other goods, with restrictions tightened since 2006. Proposed measures could include freezing assets, banning port access, and removing the ships’ flags, experts warn. Despite these moves, enforcement is difficult, as China and Russia have often shielded North Korea from harsher penalties.

In a related update, U.S. Defense Secretary Pete Hegseth reaffirmed that the alliance with South Korea remains focused on deterring North Korea. He made these remarks during

where he stressed the importance of "adaptability" in deploying U.S. forces for regional needs. His comments came as North Korea conducted new artillery drills and amid diplomatic activity involving South Korea and China.

The coordinated sanctions illustrate Washington’s comprehensive approach to isolating North Korea both economically and technologically. Yet, the success of these efforts depends heavily on international collaboration, especially from China and Russia, who have so far shown little willingness to increase pressure. As North Korea continues to develop its nuclear arsenal, the U.S. must carefully balance punitive measures with the risk of further destabilizing the region.