International Finance: N. Korea May Be Using Chinese Banks to Evade Sanctions

**U.S. officials say North Korea may be using Chinese banks to evade sanctions.**.

**What’s new:** North Korea has been using Chinese banks to conduct illicit financial activities, U.S. officials say..

**Why it matters:** The use of Chinese banks could make it more difficult for the U.S. to enforce sanctions on North Korea..

**Key details:**.

* U.S. officials say North Korea has been using Chinese banks to launder money and finance its nuclear and missile programs..

* The officials say the Chinese banks have been helping North Korea evade sanctions by providing it with access to the international financial system..

* The U.S. is considering taking action against the Chinese banks that are helping North Korea evade sanctions..

**Context:**.

* North Korea is subject to a number of U.S. and international sanctions due to its nuclear and missile programs..

* The sanctions are designed to cut off North Korea’s access to the international financial system and prevent it from obtaining the resources it needs to develop its nuclear and missile programs..

* China is North Korea’s largest trading partner and has been reluctant to fully implement the sanctions against North Korea..

**Implications:**.

* The use of Chinese banks to evade sanctions could make it more difficult for the U.S. to enforce sanctions on North Korea..

* It could also lead to increased tensions between the U.S. and China..

**What’s next:**.

* The U.S. is considering taking action against the Chinese banks that are helping North Korea evade sanctions..

* It is also possible that the U.S. will increase pressure on China to fully implement the sanctions against North Korea..

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