April 18, 2018 / 12:47 PM / 4 months ago

G7 finance ministers seek maximum economic pressure on North Korea

WASHINGTON (Reuters) - Group of Seven (G7) finance ministers said Wednesday that they would continue to impose maximum economic pressure on North Korea, which evades international sanctions with a network of front and shell companies to access the global financial system.

“We are concerned by North Korea’s evasion of international sanctions and its continued ability to access the international financial system,” the ministers said in a joint statement.

“North Korea does little business in its own true name and uses a network of agents, front and shell companies, and complex ownership structures to access the international financial system.”

Reporting by Doina Chiacu and Susan Heavey; Editing by Franklin Paul

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