Japan freezes assets of North Korea shipping firm

The Japanese government said Friday it has frozen assets in Japan held by a North Korean shipping company that operated a ship seized by Panama last year for smuggling arms. The measure, effective as of today, is taken against Ocean Maritime Management Co., whose vessel was intercepted in July 2013 near the Panama Canal on its way from Cuba to North Korea, the Japanese Foreign Ministry said in a statement. The decision comes after the UN Security Council added the firm, which is headquartered in Pyongyang, to the sanctions list in July for violating a UN embargo on shipping weapons to North Korea.