Cohen applauds Japan's designations to target North Korean weapon proliferation

The U.S. praised Japan's decision on Friday to designate the supporters of North Korea's proliferation activities for sanctions, according to the U.S. Department of the Treasury.

Treasury Under Secretary for Terrorism and Financial Intelligence David Cohen issued the statement on Friday after Japan designated 11 individuals and entities involved in supporting North Korea's proliferation activities and prohibited programs.

"Today's sanctions reflect President (Barack) Obama's and Prime Minister (Shinzo) Abe's February 2013 commitment to cooperate on sustaining global financial pressure on North Korea's illicit activities," Cohen said.

Cohen said the action by Japan illustrates the international community's resolve to implement U.N. Security Council Resolution 2094 and prevent North Korean financial institutions from enabling transactions on the behalf of individuals connected to North Korea's proliferation network. Three financial institutions designated include the Daedong Credit Bank, the Korea Daesong Bank and the Korea Kwangson Banking Corporation.

Cohen said the U.S. will work with its international partners to facilitate the peaceful denuclearization of the Korean Peninsula.

"The United States will continue to work with our partners in the region and the international community as a whole in pursuit of our shared goal: the peaceful denuclearization of the Korean Peninsula," Cohen said. "We will likewise continue, consistent with our U.N. obligations, to target the financial institutions, front companies, and individuals supporting North Korea's illicit activities."

Cohen said the U.S. looks forward to future collaboration with Japan on such an important objective.