Economy

US Adds More Sanctions on North Korea

US Adds More Sanctions on North Korea”

After a war of words broke out between Donald Trump and Kim Jong Un last week, North Korea has released a dramatic propaganda video showing its missiles blowing up USA targets.

The United States has imposed new sanctions on North Korea, targeting the country's major banks and 26 executives, amid increasing tensions between the two countries over USA military build-up on the Korean peninsula and Pyongyang's nuclear and ballistic missile tests. The administration also took the additional step of designating 26 people linked to North Korea's financial network.

"All nations must act now to ensure the regime's complete denuclearization", Trump said.

North Korea has moved its airplanes and strengthened defences on its eastern coast after the USA dispatched fighter jets and bombers to the Korean peninsula earlier last weekend, a South Korean intelligence source said on Tuesday.

"As a result of today's action, any property or interests in property of the designated persons in the possession or control of USA persons or within the United States must be blocked".

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

South Korean stocks opened lower Wednesday on increased selling by foreign investors amid tensions between North Korea and the United States.

The row between the US United States and North Korea began earlier at the UN General Assembly when Trump said that the US would have no choice but to "totally destroy" the DPRK unless Pyongyang refrains from its nuclear tests and missile launches.

Later, Trump tweeted that Kim Jong Un and his foreign minister "wouldn't be around much longer".



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