Trump to outline North Korea sanctions against 56 trade entities
Trump to outline North Korea sanctions against 56 trade entities
US Sanctions Nine Chinese Firms for North Korea Ties
25 February, 2018, 00:45
The new sanctionsimposed by the United States against North Korea involved a Taiwanese citizen and two Taiwan-linked companies, according to the U.S. Department of Treasury.
Vessels registered in China and a range of other countries were among the entities included in the sanctions, as well as Chinese and Hong Kong shipping companies.
"Today I am announcing that we are launching the largest-ever set of new sanctions on the North Korean regime", Trump will supposedly say at a conservative conference later in the day, according to excerpts of a speech released by the Oval Office. If we can't, something will have to happen. Its continued illicit ship-to-ship oil transfers, the official said, represent an effort to "make up that difference".
Pro-Gain and Kingly Won are both controlled by Taiwan businessman Tsang Yung Yuan, who was also sanctioned by the U.S. Treasury. Treasury Secretary Steven Mnuchin told reporters that the us has now imposed more than 450 sanctions against the North, about half of them in the past year - including "virtually all their ships that they're using at this moment in time".
A high-level North Korean delegation is also attending the closing ceremony, but US officials have said there will not be any meetings between the USA and North Korean delegations. North Korea insists its nuclear program is nonnegotiable. But stopping vessels suspected of carrying commercial goods, experts said, would be a major step up in the pressure campaign against Pyongyang.
But her father has ratcheted up tensions during his presidency by engaging in a war of words with North Korean leader Kim Jong-un.
President Trump called the newest round of penalties the "heaviest ever" package of sanctions on North Korea.
Experts believe North Korea has the capability to launch a missile that could reach Washington, but it's unclear whether it has the technology to fit a nuclear warhead onto such a missile.
The possibility of U.S.
The announcement came as Ivanka Trump, the President's daughter and adviser, arrived in South Korea to attend the closing ceremony of the Winter Olympics.
The US announced on Friday that it was imposing its largest round of sanctions aimed at getting North Korea to give up its nuclear and missile programs.
"While we appreciate the fact that there haven't been tests, that's not exactly a terrific standard", Mnuchin said.
The U.S. government also on Friday issued a global shipping advisory highlighting the sanctions risk to those who enable shipments of goods to and from North Korea.
He did not elaborate, but added that he hopes the sanctions work. It really is a rogue nation.
In 2017, the OFAC said, Tsang and one of his entities, Kingly Won, attempted to engage in an oil deal valued at more than US$1 million with the Russia-based Independent Petroleum Co., which was operating in the energy industry in the North Korean economy.
Trump told a meeting of U.S. conservatives on Friday that the measures are "the heaviest sanctions ever imposed".
The plan could see US Coast Guard ships deployed in the region to stop and search vessels.
With help from the Department of Treasury, the Trump administration is attempting to put pressure on DPRK for its testing of ballistic and nuclear missiles, a White House official told Reuters.
"It certainly grants the administration a bit more leverage as messages are conveyed to the Kim regime", he said.
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