Velmur assisted the operations of Transatlantic Partners Pte. Ltd., which has been sanctioned for operating in North Korea's energy industry.

North Korea is under United Nations and US sanctions for its nuclear weapons and ballistic missile programs, which include an annual cap on oil imports into the country.

"North Korea depends upon the help of criminals and illicit actors to raise and transfer funds," Treasury Secretary Steven Mnuchin said in the statement. "As part of our commitment to the final, fully verified denuclearization of North Korea, Treasury will continue to enforce and implement sanctions against any actor that seeks to aid the regime's deceptive practices."

The Treasury said the two companies are also suspected of laundering millions of US dollars in connection with North Korea.

The sanction freezes any property or interests of the designated individual within the US or in possession of US citizens. Americans are also "generally" banned from dealing with him. (Yonhap)