After the US, Russia and China vetoed actions against Pyongyang in the UN Security Council, new sanctions were imposed on North Korea today due to its latest missile tests.

The Treasury Department announced that it is freezing US assets and will criminalize the transactions of Russian banks Eastern Bank and Bank Sputnik, which are accused of collaborating with North Korea, and a shipping company affiliated with North Korean state airline Air Koyo.

Brian Nelson, a senior Treasury official, said the banks “knowingly provide important financial services” to North Korea’s official name, the People’s Republic of Korea (DPRK).

“The United States will continue to enforce and enforce sanctions while demanding that North Korea return to the diplomatic path and abandon its pursuit of weapons of mass destruction and ballistic missiles,” he said.

The United States and South Korea said Pyongyang launched three rockets on Wednesday and they believe the country may be preparing for its first nuclear test since 2017.

Washington forced a vote on sanctions against North Korea at the UN Security Council on Thursday, but the move was vetoed by China and Russia, who argued such a move would escalate tensions.

US Representative to the UN Linda Thomas-Greenfield accused Beijing and Moscow of emboldening North Korea and announced that Washington would take unilateral action against Pyongyang.