News / Asia

US Imposes Sanctions on North Korea’s Trade Bank

Larry Freund
President Obama’s National Security Advisor Tom Donilon said Monday the United States refuses to reward what he called “bad behavior by North Korea,” and announced the imposition of U.S. sanctions against North Korea’s primary foreign exchange bank.
 
Donilon said the United States has made clear it is open to authentic negotiations with North Korea, but has only seen provocations and extreme rhetoric in return. Unless North Korea changes its course, the White House advisor added, the United States will continue to work with allies and partners to tighten national and international sanctions to impede North Korea’s nuclear and missile programs.

“Today, in fact, the Treasury Department is announcing the imposition of U.S. sanctions against the Foreign Trade Bank of North Korea, the country’s primary foreign exchange bank, for its role in supporting North Korea’s weapons of mass destruction program," he said.

"By now it is clear that the provocations, escalations and poor choices of North Korea’s leaders are not only making their country less secure - they are condemning their people to a level of poverty that stands in stark contrast not only to South Korea, but every other country in East Asia,” Donilon added.

Members of the United Nations Security Council vote to tighten sanctions on North Korea in New York, Mar. 7, 2013.Members of the United Nations Security Council vote to tighten sanctions on North Korea in New York, Mar. 7, 2013.
x
Members of the United Nations Security Council vote to tighten sanctions on North Korea in New York, Mar. 7, 2013.
Members of the United Nations Security Council vote to tighten sanctions on North Korea in New York, Mar. 7, 2013.
Last week, the United Nations Security Council adopted a resolution strengthening sanctions against North Korea, action labeled an act of war by North Korea. Adoption of the U.N. resolution followed North Korea’s third nuclear test, which violated previous U.N. resolutions.

In a statement on the sanctions against North Korea’s Foreign Trade Bank, the U.S. Treasury Department says it is targeting what it describes as a key financial node in North Korea’s weapons of mass destruction apparatus and cutting it off from the U.S. financial system.

UN Security Council Resolution 2094

  • Condemns in strongest terms North Korea's ongoing nuclear activities
  • Imposes new financial sanctions to block transactions in support of illicit activities
  • Strengthens states' authority to inspect cargo, deny port, overflight access
  • Enables stronger enforcement of sanctions by U.N. member states
  • Imposes sanctions on new individuals and entities
In a speech to the Asia Society, a private educational organization, Obama advisor Donilon reviewed what the White House has described as a rebalancing of U.S. power toward Asia. He said the U.S. commitment to the Asia-Pacific region will not be affected by financial pressures and defense budget reductions. Turning to U.S. relations with China, Donilon said the two countries have made substantial progress in building a constructive relationship over the past four years. He called for a deeper military-to-military dialogue between the United States and China.

“It remains a necessary component of the model we seek and is a critical deficiency in our current relationship," said Donilon. "The military-to-military relationship between the United States and China lags behind the economic and political and diplomatic relationship that we have, and it needs to be corrected. You can’t have a comprehensive, positive relationship and not have the kind of military-to-military deep dialogue that is necessary.”

Donilon also urged China to take serious steps to investigate and put a stop to cyber-enabled theft, and to engage with the U.S. in what he termed a constructive direct dialogue to establish acceptable norms of behavior in cyberspace.

You May Like

Karzai's Legacy: Missed Opportunities?

Afghanistan's president leaves behind a much different nation than the one he inherited, yet his legacy from 13 years in power is getting mixed reviews More

Video Secret Service Chief Under Fire for White House Security Breach

Julia Pierson faces tough questions from lawmakers after recent intrusion at White House, says: 'It is clear that our security plan was not executed properly' More

Frustrated, Liberian Students Want Ebola Fight Role

Thousands have volunteered to go to counties, rural villages to talk to people in their language about deadly virus More

This forum has been closed.
Comment Sorting
Comments
     
by: Dale from: Australia
March 11, 2013 7:14 PM
Words, words, hot air and nothing else. I've been hearing the same empty rethoric from the west for decades, and yet the world has been seeing a sharp increase on the number of extremist and dictatorship governments taking over. I'm afraid we have gone past the point where something could have been done, and I see the western civilization coming to an end within one generation.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Malaysia Struggles to Stop People Joining Jihadi
X
Mahi Ramakrishnan
September 30, 2014 2:16 PM
Malaysian authorities say militant groups like the so-called "Islamic State" have used social media to entice at least three dozen Malaysian Muslims to fight in what they call "jihad" in Syria and Iraq. As Mahi Ramkrishnan reports from Kuala Lumpur, counterterrorism police are deeply worried about what could happen when these militants return home.
Video

Video Malaysia Struggles to Stop People Joining Jihad

Malaysian authorities say militant groups like the so-called "Islamic State" have used social media to entice at least three dozen Malaysian Muslims to fight in what they call "jihad" in Syria and Iraq. As Mahi Ramkrishnan reports from Kuala Lumpur, counterterrorism police are deeply worried about what could happen when these militants return home.
Video

Video Could US Have Done More to Stop Rise of Islamic State?

President Obama says airstrikes against Islamic State militants in Syria will likely continue for some time because, in his words, "there is a cancer that has grown for too long." So what if President Obama had acted sooner in Syria to arm more-moderate opponents of both the Islamic State and the Syrian government? VOA State Department Correspondent Scott Stearns reports from the United Nations.
Video

Video Treasure Hunters Seek 'Hidden Treasure' in Central Kenya

Could a cave in a small village in central Kenya be the site of buried treasure? A rumor of riches, left behind by colonialists, has some residents dreaming of wealth, while others see it as a dangerous hoax. VOA's Gabe Joselow has the story.
Video

Video Iran's Rouhani Skeptical on Syria Strikes

Iranian President Hassan Rouhani expressed skepticism Friday that U.S.-led airstrikes in Iraq and Syria could crush Islamic State militants. From New York, VOA’s Margaret Besheer reports the president was also hopeful that questions about Iran’s nuclear program could be resolved soon.
Video

Video US House Speaker: Congress Should Debate Authorization Against IS

As wave after wave of U.S. airstrikes target Islamic State militants, the speaker of the Republican-controlled House of Representatives says he would be willing to call Congress back into session to debate a formal, broad authorization for the use of military force. VOA’s Michael Bowman reports from Washington, where legislators left town 10 days ago for a seven-week recess.
Video

Video Ebola Patients Find No Treatment at Sierra Leone Holding Center

At a holding facility in Makeni, central Sierra Leone, dozens of sick people sit on the floor in an empty university building. They wait in filthy conditions. It's a 16-hour drive by ambulance to Kailahun Ebola treatment center. Adam Bailes was there and reports on what he says are some of the worst situations he has seen since the beginning of this Ebola outbreak. And he says it appears case numbers may already be far worse than authorities acknowledge.
Video

Video Identifying Bodies Found in Texas Border Region

Thousands of immigrants have died after crossing the border from Mexico into remote areas of the southwestern United States in recent years. Local officials in south Texas alone have found hundreds of unidentified bodies and buried them in mass graves in local cemeteries. Now an anthropologist and her students at Baylor University have been exhuming bodies and looking for clues to identify them. VOA’s Greg Flakus has more from Waco, Texas.
Video

Video Ebola Robs Liberians of Chance to Say Good-Bye to Loved Ones

In Liberia, where Ebola has killed more than 1,500 people, authorities have worked hard to convince people to allow specialized burial teams to take away dead bodies. But these safety measures, while necessary, make it hard for people to say good bye to their loved ones. VOA's Anne Look reports on the tragedy from Liberia.
Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.

AppleAndroid