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North Korea is reportedly earning foreign cash by registering foreign vessels as North
Korean ships. Voice of America reports that North Korea
registered six vessels from Middle East nations, including Iran and the UAE, from last year
to March. The report says the foreign shipping companies
benefit from avoiding certain taxes, while Pyongyang gets the foreign currency it craves.
Voice of America points out that the practice is a clear violation of UN sanctions that
ban not only North Korean ships operating under foreign flags of convenience, but also
foreign vessels registering under North Korea.