The Trump administration announced a new round of sanctions against North Korea on Tuesday, targeting various trade and business enterprises inside the already isolated nation in order to turn up pressure on leader Kim Jong-Un to abandon his nuclear weapons program.
“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,” Treasury Secretary Steve Mnuchin said in a statement.
The newest sanctions will impact “companies that have engaged in trade with North Korea cumulatively worth hundreds of millions of dollars” as well as shipping and transportation vessels, accordingly to the agency.
Trump returned North Korea to the State Department’s list of state sponsors of terrorism a day before the sanctions were revealed, telling reporters on Monday the move was long overdue. The hermit nation had been removed from the State Department list under former President George W. Bush.
Countries on on the list, which also includes Sudan, Iran, and Syria, are prevented from receiving foreign aid, assistance or exports from the U.S. Other nations who trade with state sponsors of terrorism may also face punitive measures.
The latest round of sanctions comes months after Trump signed legislation in August that imposed additional sanctions on North Korea and set a November deadline for the administration to notify Congress of its intent to designate the country a state sponsor of terror.
Tuesday’s sanctions target one Chinese businessman known for doing business with North Korea, 13 companies and 20 vessels that regularly trade with the country.
