The US sanctioned Chinese and Russian entities for helping North Korea cash in on its billion-dollar smuggling schemes

From: Business Insider

Rosie Perper

• The US sanctioned Chinese and a Russian entities on Wednesday for helping service the illegal cigarette and alcohol trade in North Korea. 

• According to the US Treasury, North Korea’s cigarette smuggling has reportedly netted the Kim regime over $1 billion per year.

• Profits from the cigarette trade and other smuggling schemes are said to help fund the country’s missile and nuclear weapons program.

The US sanctioned Chinese and a Russian entities on Thursday for helping service the illegal cigarette and alcohol trade in North Korea that has reportedly netted the Kim regime more than $1 billion per year.

The US Treasury stated on Thursday that it was targeting individuals and entities involved in facilitating shipments of banned substances to North Korea.

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