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New US sanctions hit 8 North Korean banks, 26 bank workers

New US sanctions hit 8 North Korean banks, 26 bank workers”

The Treasury's Office of Foreign Assets Control, which overseas U.S. sanctions programs, said the Foreign Trade Bank had carried out transactions on behalf of North Korea's weapons development program.

Trump, speaking in the Rose Garden on Tuesday, said North Korea must no longer be allowed to "threaten the entire world with unthinkable loss of life".

To implement the United Nations measures, Taiwan will suspend oil product exports to North Korea and clothing and related textile imports from the North.

This Order makes clear that any non-U.S. business that is engaged in trade related to North Korea risks sanctions exposure.

The 26 individuals are all North Korean nationals working as representatives of North Korean banks in China, Russia, Libya and the United Arab Emirates, the department said.

President Donald Trump signed an executive order on 21 September 2017 (the Order) tightening sanctions against North Korea in response to recent "provocative, destabilizing, and repressive actions and polices", including recent ballistic missile and nuclear tests.

The Trump administration on Tuesday announced new sanctions against North Korean banks.

The measure targets eight North Korean banks and 26 people "linked to North Korean financial networks", the Treasury said.

The eight banks are all in North Korea. He says it's part of the effort to isolate North Korea over its nuclear weapons program.



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