WASHINGTON, Sept 21 (KUNA) -- US Secretary of Treasury Steven Mnuchin called Thursday on world countries to join the US "by cutting all trade and financial ties with North Korea in order to achieve a denuclearized Korean peninsula." Speaking in New York following the signing of a new Executive Order by President Donald Trump imposing additional sanctions on North Korea, Mnuchin affirmed "we will continue to work with our allies and partners to stop North Korea from abusing the global financial system to further Kim Jong-un's reckless ambitions." He added that "despite multiple UN Security Council Resolutions, North Korean dictator Kim Jong-un continues to threaten the world and his neighbors with provocative nuclear and missile tests." He noted that Trump's new Executive Order "significantly expands Treasury's authorities to target those who enable this regime's economic activity wherever they are located." "For far too long, North Korea has evaded sanctions and used the international financial system to facilitate funding for its weapons of mass destruction and ballistic missile programs. "No bank, in any country, should be used to facilitate Kim Jong-un's destructive behavior," he remarked.
He indicated that this new Executive Order will authorize Treasury to impose a range of sanctions, such as "suspending US correspondent account access to any foreign bank that knowingly conducts or facilitates significant transactions tied to trade with North Korea or certain designated persons." "Foreign financial institutions are now on notice that, going forward, they can choose to do business with the United States or with North Korea, but not both," he noted.
He added that this new Executive Order "also enables Treasury to target anyone conducting significant trade in goods, services, or technology with North Korea, and to ban them from interacting with the U.S. financial system." "It also allows us to block and freeze assets of actors supporting North Korea's textiles, fishing, IT, and manufacturing industries," he continued. (pickup previous) si.gb