6 years ago
US sanctions have a weak spot: tiny allies like Latvia
When the U.S. hit North Korea with sanctions last year, Pyongyang’s state-owned banks found a quiet backchannel to keep money flowing to the country’s ballistic missile programs, the U.S. says: the tiny European country of Latvia. One of the biggest banks in Latvia — a member country of the European Union and NATO — built a business from processing illegal money transfers, enabling North Korea to continue to procure missiles, the U.S. government says.
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