U.S. lawmakers press for broader sanctions against N. Korea

U.S. lawmakers press for broader sanctions against N. Korea

PanARMENIAN.Net - U.S. lawmakers introduced legislation on Thursday, Feb 5, to broaden sanctions against North Korea by imposing stiffer punishments on foreign companies doing business with Pyongyang, a measure that could impact mostly on Chinese firms, Reuters reported.

"In the wake of the state-sponsored cyber-attack on Sony Pictures, the bipartisan legislation targets North Korea's access to the hard currency and other goods that help keep the regime in power," the bill's co-sponsor, U.S. Republican Representative Ed Royce, said.

"Additionally, it presses the Administration to use all available tools to impose sanctions against North Korea and on countries and companies that assist North Korea in bolstering its nuclear weapons program," Royce, the House Foreign Affairs Committee chairman, said in a statement.

The vast majority of North Korea's business dealings are with neighboring China, which bought 90 percent of the isolated country's exports in 2013, according to data compiled by South Korea's International Trade Association.

The bill responds to concern in Congress about last year's cyber attack on Sony Pictures, which was blamed on Pyongyang, as well as what lawmakers see as the international failure to rein in the reclusive state's nuclear weapons program.

The measure is co-sponsored by Republicans and Democrats, including the leaders of the House Foreign Affairs Committee, Royce, and Democrat Eliot Engel.

A similar bill is likely in the U.S. Senate. It is expected to enjoy strong bipartisan support in both chambers. The bill would authorize U.S. officials to freeze assets held in the United States of those found to have direct ties to illicit North Korean activities like its nuclear program, as well as those that do business with North Korea, providing its government with hard currency.

It would also target banks that facilitate North Korean proliferation, smuggling, money laundering, and human rights abuses, and target people who helped in the cyber attacks against the United States, Royce said.

North Korea is already heavily sanctioned by the United States and United Nations for its arms programs and nuclear tests. President Barack Obama imposed new sanctions last year aimed at cutting the country's remaining links to the international financial system.

 Top stories
Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive.
In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million).
The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot".
The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads.
Partner news
---