Bank of Dandong, the Chinese lender that was hit with US sanctions on Thursday for its alleged dealings with North Korea, is a marginal player in China’s sprawling banking system.
The city of Dandong is situated in the Yalu River that marks the border between China and North Korea in north-eastern China’s Liaoning province. During the Korean war, General Douglas MacArthur’s decision to push his troops towards the river persuaded Mao Zedong to enter the war in support of his Communist ally.
US Treasury officials alleged on Thursday that BoD facilitates illicit transactions for individuals and companies involved with North Korea’s weapons programmes.
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