The Office of Foreign Assets Control of the US Department of the Treasury has designated a Russian entity, the Russian Financial Society, pursuant to Executive Order 13382 for providing support, goods or services to Dandong Zhongsheng Industry & Trade Co. Ltd, which is owned or controlled by the North Korean Foreign Trade Bank, a US and UN-designated entity. According to OFAC, Russian Financial Society has opened multiple bank accounts for Dandong Zhongsheng, enabling North Korea to circumvent US and UN sanctions.
As a result of the designation, all US property of Russian Financial Society is blocked, and US persons are prohibited from engaging in transactions that involve property belonging to a designated entity.