House lawmakers passed fresh new sanctions bill on Thurdsay created to mess with North Korea’s economy through limiting the network of banks and industries that assist it in ducking western sanctions.
“If we shut down their economy, they can’t move forward with their [nuclear weapons program] program,” House Foreign Affairs Committee chairman Ed Royce, R-Calif., stated on Thursday for Fox.
The House passed the bill in a 419-1 vote.
The legislation, named the Korea Interdiction and Modernization of Sanctions Act, aims at anyone who purchases North Korean stuff above legal limits or who helps construct an indirect reach to the international banking system.
“Kim Jong Un is exceedingly crafty,” New York Rep. Eliot Engel, the highest ranked Democrat on the Foreign Affairs Committee, stated. “When we make sanctions tougher, they come up with new ways to get around them: phony bank accounts, fake companies overseas, shipments under foreign flags. So we need to go back to the well, to close the loopholes that the regime exploits. That’s what this measure does.”
The potential closing of those sanctions would demand the United States to aim at Chinese entities precisely, which is quite a tricky measure as the Trump administration attempts to work with China to stop the North Korean nuclear weapons program.
“So it’s a pressure campaign that has a knob on it,” Tillerson stated on Wednesday while he addressed the State Department staff. “I’d say we’re at about dial setting 5 or 6 right now, with a strong call of countries all over the world to fully implement the UN Security Council resolutions regarding sanctions, because no one has ever fully implemented those. So we’re going to lean into people to fully implement them.”
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