After President Trump’s Monday announcement that he was adding North Korea to the list of state sponsors of terror, the U.S. treasury followed up with a flurry of new sanctions aimed at dissuading Kim Jong Un’s regime from their continued pursuit of nuclear arms.
As North Korea continues to threaten international peace and security, we are steadfast in our determination to maximize economic pressure to isolate it from outside sources of trade and revenue while exposing its evasive tactics,” said Treasury Secretary Steven Mnuchin in a statement that accompanied the sanctions.
According to the treasury, the new sanctions, which target one individual, 13 entities and 20 vessels, are mostly aimed at “third country persons” with long-standing commercial ties to the North Korean state, as well as transportation networks that facilitate North Korean revenue generation.
The Treasury Department explained that North Korea has been known to employ “deceptive shipping practices” aimed at circumventing existing sanctions. By targeting entities tied to import, export and international transportation, they hope to curb any opportunities for Kim’s regime to produce revenue through such deceptive practices.