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

IS Militants Release 49 Turkish Hostages

Turkey's state-run Anadolu news agency reports that no ransom was paid and no conditions accepted for the hostages' release; few details of the release are known More

Photogallery IS Attacks Send Thousands of Syrian Kurds Fleeing to Turkey

Syrian Observatory for Human Rights says more than 300 Kurdish fighters crossed into Syria from Turkey to defend a Kurdish area from attack by the Islamic militants More

Video Sierra Leone's Ebola Lockdown Continues

Thousands of health workers are going door to door in the West African country of 6 million, informing people of how to avoid Ebola, handing out soap 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.
Fears Ebola Outbreak ‘Beyond Our Capability to Contain’i
X
Jeff Seldin
September 20, 2014 10:28 PM
Each day brings with it new warnings about the deadly Ebola outbreak already blamed for killing more than 2,600 people across West Africa. And while countries and international organizations like the United Nations are starting to come through on promises of help for those most affected, the unprecedented speed with which the virus has spread is raising questions about the international response. VOA's Jeff Seldin has more from Washington.
Video

Video Fears Ebola Outbreak ‘Beyond Our Capability to Contain’

Each day brings with it new warnings about the deadly Ebola outbreak already blamed for killing more than 2,600 people across West Africa. And while countries and international organizations like the United Nations are starting to come through on promises of help for those most affected, the unprecedented speed with which the virus has spread is raising questions about the international response. VOA's Jeff Seldin has more from Washington.
Video

Video Iran, World Powers Seek Progress in Nuclear Talks

Iran and the five permanent members of the U.N. Security Council plus Germany, known as the P5 + 1, have started a new round of talks on Iran's nuclear program. VOA State Department correspondent Pam Dockins reports that as the negotiations take place in New York, a U.S. envoy is questioning Iran's commitment to peaceful nuclear activity.
Video

Video Obama Goes to UN With Islamic State, Ebola on Agenda

President Obama goes to the United Nations General Assembly to rally nations to support a coalition against Islamic State militants in Iraq and Syria. He also will look for nations to back his plan to fight the Ebola virus in West Africa. As VOA White House correspondent Luis Ramirez reports, Obama’s efforts reflect new moves by the U.S. administration to take a leading role in addressing world crises.
Video

Video Migrants Caught in No-Man's Land Called Calais

The deaths of hundreds of migrants in the Mediterranean this week has only recast the spotlight on the perils of reaching Europe. And for those forunate enough to reach a place like Calais, France, only find that their problems aren't over. Lisa Bryant has the story.
Video

Video Westgate Siege Anniversary Brings Back Painful Memories

One year after it happened, the survivors of the terror attack on Nairobi's Westgate Shopping Mall still cannot shake the images of that tragic incident. For VOA, Mohammed Yusuf tells the story of victims still waiting for the answer to the question 'how could this happen?'
Video

Video Militant Assault in Syria Displaces Thousands of Kurds

A major assault by Islamic State militants on Kurds in Syria has sent a wave of new refugees to the Turkish border, where they were stopped by Turkish border security. Turkey is already hosting about 700,000 Syrian refugees who fled the civil war between the government and the opposition. But the government in Ankara has a history of strained relations with Turkey's Kurdish minority. Zlatica Hoke reports Turkey is asking for international help.
Video

Video Whaling Summit Votes to Uphold Ban on Japan Whale Hunt

The International Whaling Commission, meeting in Slovenia, has voted to uphold a court ruling banning Japan from hunting whales in the Antarctic Ocean. Conservationists hailed the ruling as a victory, but Tokyo says it will submit revised plans for a whale hunt in 2015. Henry Ridgwell reports from London.
Video

Video A Dinosaur Fit for Land and Water

Residents and tourists in Washington D.C. can now examine a life-size replica of an unusual dinosaur that lived almost a hundred million years ago in northern Africa. Scientists say studying the behemoth named Spinosaurus helps them better understand how some prehistoric animals adapted to life on land and in water. The Spinosaurus replica is on display at the National Geographic museum. VOA’s George Putic has more.
Video

Video Iraqi Kurdistan Church Helps Christian Children Cope find shelter in churches in the Kurdish capital, Irbil

In the past six weeks, tens of thousands of Iraqi Christians have been forced to flee their homes by Islamic State militants and find shelter in churches in the Kurdish capital, Irbil. Despite U.S. airstrikes in the region, the prospect of people returning home is still very low and concerns are starting to grow over the impact this is having on the displaced youth. Sebastian Meyer reports from Irbil on how one church is coping.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid