“Today I am announcing that we are launching the largest-ever set of new sanctions on the North Korean regime,” Trump said in excerpts of a speech he was to deliver later on Friday morning.
He said the sanctions will target more than 50 “vessels, shipping companies, and trade businesses that are assisting North Korea in evading sanctions.”
The sanctions are yet another attempt to put pressure on Pyongyang over its nuclear and ballistic missile tests. North Korea last year conducted its sixth and largest nuclear test despite UN Security Council resolutions. The sanctions are directed at one person, 27 companies, and 28 vessels, according to a statement on the US Treasury Department’s website.
The North Korean shipping industry is the main way in which North Korea gets round sanctions to fund its nuclear weapons and ballistic missile programs, according to the US Treasury.
The last round of US sanctions came in January 2018 when the US Treasury Department added 16 individuals, nine entities, and six ships to the North Korea sanctions blacklist, including two companies based in China.
These come on top of sanctions launched by the UN Security Council in 2017 which targeted North Korea’s export of coal, iron, and iron ore.
Both Russia and China have urged caution in response to North Korea. In January, Moscow and Beijing proposed a ‘double freeze’ initiative that envisaged the US and its allies ceasing all major military exercises in the region in exchange for Pyongyang suspending its nuclear and ballistic missile program. The initiative was rejected by Washington.
(RT)
23/2/18
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