US imposes new sanctions on North Korea

The Obama administration has tightened the US trade embargo on North Korea, explicitly placing sanctions on the Pyongyang government, its ruling party and broad sectors of the country’s economy. The US action is expected to significantly increase pressure on China to cut its business dealings with the nuclear-armed state.

  • Chinese companies could also be targeted in the crackdown.
  • China is by far the North Korean government’s largest business partner and invests in many of the economic sectors.
  • The U.S. said revenue, particularly from North Korea’s mining industry, is invested by Pyongyang back into programs to develop weapons of mass destruction.
  • The Treasury also sanctioned 17 North Korean government officials and organizations, and placed travel warnings on 20 North Korean shipping vessels.

The new sanctions came as North Korea sentenced Otto Warmbier, a 21-year-old student at the University of Virginia, to 15 years of hard labor after he was convicted of subversion for allegedly stealing a political poster in January.

Did You Know?

  • The U.N. resolution mandates countries to inspect all cargo to and from North Korea, cut off shipments of aircraft and rocket fuel, ban all weapons sales and restrict all revenues to the government unless for humanitarian purposes.
  • Countries are required to expel North Korean diplomats affiliated with illicit programs and honor the robust list of sanctioned individuals and entities.

The U.S. said mining, particularly of coal, was crucial for Pyongyang’s finances, earning it around $1 billion annually. Treasury also said North Korea uses its finance and shipping firms to support its clandestine weapons programs.


Check out our latest videos on youtube