Articles Posted in U.S. Sanctions

Global-economy-risks-300x150Compiling a list of the top 10 global risks to the economy in 2019, the Economist Intelligence Unit is forecasting a number of active threats that could lead to a lack of stability and security. The EIU believes that these risks will grow worse before there is a chance of them getting better.

Here are the 10 risks listed by the EUI:

  1. Recession from U.S. corporate debt burden

The U.S. Treasury Department has imposed sanctions on four people and a company;Kim Sok Chol, the North Korean ambassador to Myanmar;Hwang Su Man and his company, EKO Development and Investment Co. The Treasury  said  all are linked to North Korean weapons expansion efforts. They all, according to Treasury, have ties to the Korea Mining Development Trading Corp., or KOMID, which  U.S. officials say it is Pyongyang’s “primary arms dealer.”

Kim Kwang Hyok, a KOMID official in Myanmar  works with Kim Sok Chol, and on Ri Chong Chol, a KOMID official in Pyongyang.

Hwang Su Man and his company, EKO Development and Investment Co., for what Treasury alleged was their support to KOMID. He and the company, a North Korean government entity, are both located in Egypt; they’ve helped KOMID market North Korean weapons systems to foreign countries, Treasury said.