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

China Investigates Former Powerful Security Chief

Former security chief and member of Politburo Standing Committee, Zhou Yongkang, under investigation for suspected 'serious disciplinary violation' More

India, US Look to Reset Ties During Kerry Visit

This week's talks will be first high level interaction between two countries since Prime Minister Narendra Modi took charge More

Video Young African Leadership Program Renamed to Honor Mandela

YALI program, launched by President Obama in 2010, aims to build skills in business, entrepreneurship, public management and civic leadership 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.
Vietnamese Staging Chinese Product Boycott After Oil Rig Spati
X
Reasey Poch
July 28, 2014 7:18 PM
China recently pulled an oil rig from an area of the disputed South China Sea that Vietnam also claims. Despite the action, the incident has had a lingering effect on consumers in Vietnam. VOA's Reasey Poch reports from Hanoi on an effort to boycott Chinese products.
Video

Video Vietnamese Staging Chinese Product Boycott After Oil Rig Spat

China recently pulled an oil rig from an area of the disputed South China Sea that Vietnam also claims. Despite the action, the incident has had a lingering effect on consumers in Vietnam. VOA's Reasey Poch reports from Hanoi on an effort to boycott Chinese products.
Video

Video ESA Spacecraft to Land on a Comet

After a long flight through deep space, a European Space Agency probe is finally approaching its target -- a comet millions of kilometers away from earth. Scientists say the mission may lead to some startling discoveries about the origins of the water on earth. VOA’s George Putic has more.
Video

Video Young Africans Arrive in US for Leadership Program

President Barack Obama's Young African Leadership Initiative has brought hundreds of young Africans to the United States for a six-week program aimed at building their knowledge and skills in fields such as public administration and business. Out of the 50,000 young Africans who applied for the program, just one percent was accepted. VOA's Laurel Bowman caught up with some of those who made the cut and has this report.
Video

Video In Honduras, Amnesty Rumors Fuel US Migration Surges

False rumors in Central America are fueling the current surge of undocumented young people being apprehended at the U.S. border. The inaccurate claims suggest the U.S. will give amnesty to young migrants from the region. As VOA's Brian Padden reports from Honduras, these rumors trace back to President Obama's 2012 executive order to halt deportations for some young undocumented immigrants already living in the United States.
Video

Video Students in Business for Themselves

They're only high school students, but they are making accessories for shoes, fabricating backpacks and doing product photography - all through their own businesses. It's the result of a partnership between a non-profit organization that teaches entrepreneurship and their schools. VOA's Mike O'Sullivan and Deyane Moses met the budding entrepreneurs near Los Angeles.
Video

Video Astronauts Train in Underwater Lab

In the world’s only underwater laboratory, four U.S. astronauts train for a planned visit to an asteroid. The lab - called Aquarius- is located five kilometers off Key Largo, in southern Florida. Living in close quarters and making excursions only into the surrounding ocean, they try to simulate the daily routine of a crew that will someday travel to collect samples of a rock orbiting far away from earth. VOA’s George Putic has more.

AppleAndroid