In the News – U.N. committee sanctions three North Korea companies

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In the News – U.N. committee sanctions three North Korea companies

Susan E. Rice, U.S. Permanent Representative to the United Nations, speaks to the media at UN headquarters in New York, May 2, 2012.REUTERS/Lucas Jackson

By Louis Charbonneau

UNITED NATIONS | Wed May 2, 2012 4:41pm EDT

(Reuters) – A U.N. Security Council sanctions committee on Wednesday added three North Korean state companies to a U.N. blacklist of firms banned from international trade in response to Pyongyang’s rocket launch last month.

The decision by the Security Council’s North Korea sanctions committee came after China consented to sanctions on the trio of companies. It falls far short of the roughly 40 firms the United States, European Union, South Korea and Japan had wanted to blacklist after Pyongyang’s launch.

The newly blacklisted firms are “very significant North Korean entities” involved in Pyongyang’s nuclear and missile programs, U.S. Ambassador to the United Nations Susan Rice said. Continue reading