Foreign Trade Bank of the Democratic People's Republic of Korea
| Foreign Trade Bank of the Democratic People's Republic of Korea 조선 민주주의 인민 공화국 의 대외 무역 은행 |
|
|---|---|
| Country |
 North Korea
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| Seat | Pyongyang |
| legal form | |
The Foreign Trade Bank of the Democratic People's Republic of Korea (조선 민주주의 인민 공화국 의 대외 무역 은행) is a bank for foreign trade of North Korea , based in Pyongyang . It is under the control of the government.
Executive Order 13382 of the United States has been in effect since June 29, 2005 , so accounts with movements between this bank and US companies are frozen. This is to prevent (direct or indirect) support for North Korea and the construction of Korean weapons of mass destruction .
In the course of the North Korea crisis in 2013 , the Bank of China followed the UN sanctions and discontinued connections with the North Korean credit institution on May 7, 2013. As a result, all accounts were closed. Western observers interpret this as a sign of China's anger at its neighboring allied state.
Individual evidence
- ↑ Executive Order 13,382th In: www.state.gov. Retrieved October 27, 2015 .
- ↑ North Korea: USA and South Korea want to stick to the hard line. In: Deutschlandradio. Retrieved April 3, 2019 .
- ↑ Nuclear conflict: China closes accounts of North Korea's commercial bank . In: Spiegel Online . May 7, 2013 ( spiegel.de [accessed October 27, 2015]).