US imposes new sanctions on North Korean oil, coal trade

23 Aug 2017   North Korea, USA

The Trump administration on Tuesday announced new sanctions in response to North Korean nuclear and ballistic missile tests, including penalties aimed at shutting down coal and oil flows into and out of North Korea. The Department of the Treasury’s Office of Foreign Assets Control designated 16 companies and individuals accused of supporting North Korea’s nuclear and missile programs and participating in North Korean energy trades. “Treasury will continue to increase pressure on North Korea by targeting those who support the advancement of nuclear and ballistic missile programs, and isolating them from the American financial system,” Treasury Secretary Steven Mnuchin said in a statement. The sanctions come amid increasing global pressure to isolate North Korea, including a embargo on oil flows into the country. In Seoul Tuesday, a US congressional delegation, including Senators Ed Markey, Massachusetts-Democrat, and Chris Van Hollen, Maryland-Democrat, called for a ban on energy exports from China […]

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