US imposes fresh sanctions to restrict North Korea's revenues

FILE PHOTO: A North Korean flag flies on a mast at the Permanent Mission of North Korea in Geneva October 2, 2014. REUTERS/Denis Balibouse/File Photo

WASHINGTON (Reuters) - The U.S. Treasury Department on Wednesday imposed sanctions on individuals and companies that it accused of illicitly generating revenue for the government of North Korea.

The Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned Chilsong Trading Corporation, which it says is used by North Korea to earn foreign currency and collect intelligence; and Korea Paekho Trading Corporation, which is accused of generating funds for the North Korean government since the 1980s by conducting art and construction projects throughout the Middle East and Africa.