The US government and a UN experts panel have published reports on how North Korea evades sanctions to earn the hard currency it needs.
Here are five of the eight methods used:
1. Swapping goods
North Korea directly exchanges its coal and other minerals for the goods it needs, such as weapons components and even luxury items.
2. Smuggling
Smugglers from other countries such as China turn off their ships’ transponders when entering North Korean waters, then take North Korean goods to another country where they say it was made there.
3. Overseas workers and projects help fund weapons program
Almost 100,000 North Koreans work around the world, generating about US$500 million for Kim Jong-un’s regime.
4. Front companies
North Korean companies set up bank accounts for front companies overseas to place their earnings.
5. Diplomatic cover
North Korea uses its diplomats overseas to open multiple bank accounts. Sometimes they are in their own names, family members’ or front companies.
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