By Bloomberg
February 23, 2018

President Donald Trump said Friday his administration is imposing the largest U.S. sanctions package yet against North Korea for its nuclear weapons program.

The sanctions, which Trump planned to unveil at a meeting of conservatives near Washington, aims to disrupt shipping and trading companies and vessels that deal with North Korea in an effort to further isolate the regime of Kim Jong Un.

“The Treasury Department will soon be taking new action to further cut off sources of revenue and fuel that the regime uses to fund its nuclear program and sustain its military by targeting 56 vessels, shipping companies, and trade businesses that are assisting North Korea in evading sanctions,” Trump will tell the meeting, according to excerpts released in advance by the White House.

Read more: All about North Korea’s nuclear ambitions

The action targets one individual, 27 entities, and 28 vessels, according to a statement from the Treasury Department Friday. Those vessels may be located, registered or flagged in a number of countries, including North Korea, China, Singapore, Taiwan, Hong Kong and the Marshall Islands.

While the new sanctions focus on international shipping, the administration is also working on a response to the regime’s illicit cyber activities, a senior administration official said.

Olympic Games

The latest sanctions send a message of continued U.S. determination as its ally South Korea hosts athletes and officials from North Korea in a show of detente at the Winter Olympics. Ivanka Trump, the president’s daughter and adviser, is in South Korea for the closing ceremony of the games. “We cannot have a better, or smarter, person representing our country,” Trump said in a tweet on Friday morning.

North Korea already faces the most severe sanctions imposed by the U.S. The additional sanctions follow a year of escalating tensions between the U.S. and North Korea over its ballistic missile testing and nuclear development programs.

Vice President Mike Pence hinted at the new sanctions earlier this month during an Asia trip, promising the administration would bring “maximum pressure” to bear on the Kim government.

Treasury Secretary Steven Mnuchin said in the statement that the new prohibitions will deter North Korea from evading previous sanctions. He said they’re being lodged under 2016 and 2017 laws passed by Congress and signed by the president.


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