US Lays Shipping Sanctions on Russia 
Sea Freight

US Lays Shipping Sanctions on Russia 

US alleges Russia has broken UN terms of trade with North Korea

TLME News Service

The US has brought sanctions to bear on Russian ships after alleging that Russia was breaking UN terms of trade with North Korea.

Two Russian shipping companies allegedly at the heart of the storm are Primorye Maritime Logistics Co Ltd and Gudzon Shipping Co LLC.

The move comes after relations between the US and Russia were seemingly improving after a meeting between US President Trump and Russian leader Vladimir Putin.

Since President Trump’s election, the US has been on the offensive with regard to world trade, which has led to a trade war with China.

US Treasury Secretary Steven Mnuchin said in a statement: “Ship-to-ship transfers with North Korea-flagged vessels from Russia or elsewhere of any goods being supplied, sold, or transferred to or from the DPRK are prohibited under the UN Security Council resolutions on North Korea and are sanctionable under U.S. law.”

The US has also outlined that it has banned several companies and individuals from working with US companies.

Read more: US China Trade War Kicks Off

Transport and Logistics ME