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In March, the U.S. Treasury Department imposed sanctions against the Foreign Trade Bank, effectively cutting it off from the U.S. financial system and urged Beijing to do the same. The department called the bank a "key financial node" in North Korea's programs to develop weapons of mass destruction. It said the Foreign Trade Bank had financed other banks and companies already targeted by sanctions, including assisting in millions of dollars in transactions for the Korean Mining Development Corp., a major arms dealer.
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