N. Korea announces relaunch of acrobatic, dance and gymnastic performance

US slaps sanctions on companies in China Singapore and Russia for trading with North Korea

The U.S. Treasury Department noted that the company entered Kolchanova violated United Nations sanctions against North Korea, providing services in three Russian ports of sanctioned North Korean ships, which are involved in the supply of oil.

But the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) added the company and its director Vasili Aleksandrovich Kolchanov to it's Specially Designated Nationals and Blocked Persons (SDN) list for working with North Korea.

Sergey Ryabkov told the state news agency Interfax that the new sanctions imposed on the Russian company Profinet and its general manager Vasily Kolchanov for allegedly facilitating the delivery of illicit shipments to the North Korean regime "lacked any basis".

The Russian Foreign Ministry said Thursday that the USA move could "undermine recent progress toward the settlement" of the standoff over North Korea's nuclear and missile programs.

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.

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"Washington should be reminded that the "maximum pressure" approach on Pyongyang is not in keeping with the current situation on the Korean Peninsula and it needs to consider easing sanctions", Xinhua said in a commentary.

Russian Foreign Minister attends a news conference in Ankara, Turkey, August 14, 2018.

Despite the prohibitions and sanctions imposed by the UN Security Council, North Korea continues to do business with other countries. He was quoted as saying on Thursday that a decision on the measures would be taken by Russia's leadership.

According to its website, Profinet was established in 2002 and provides port services to vessels at the Russian ports of Nakhodka, Vostochny, Vladivostok, and Slavyanka.

"It's not our concern who fuels the vessels, who sells that fuel, who they buy the cargo and oil products from", he said. "As an agent, I only need to check that they have permission from customs".

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