A Review of the Nigerian Energy Industry

U.S. sanctions South African for helping North Korea acquire oil

South Africa’s Deputy President, Cyril Ramaphosa

19 November 2018, News Wires — The United States on Monday sanctioned a South African man for helping North Korea acquire oil, Treasury’s Office of Foreign Assets Control said.

In a statement, the office said it had sanctioned Russia-born Vladlen Amtchentsev for advising on how to evade U.S. sanctions meant to help thwart North Korea’s nuclear ambitions on behalf of Velmur Management Pte. Ltd.

The United States had already sanctioned Velmur for assisting Transatlantic Partners Pte. Ltd., which it said was operating in the energy industry in North Korea. It also sanctioned both companies for allegedly laundering millions of dollars for North Korea.

  • Reuters
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