The United States said on Friday it was imposing its largest package of sanctions to pressure North Korea to give up its nuclear missile program, and President Donald Trump warned of a “phase two” that could be “very, very unfortunate for the world” if the steps did not work.
The U.S. Treasury sanctions’ targets include a Taiwanese passport holder, as well as shipping and energy firms in mainland China, Hong Kong, Taiwan and Singapore. The actions block assets held by the firms and individuals in the United States and prohibit U.S. citizens from dealing with them. The U.S. Treasury said the sanctions were designed to disrupt North Korean shipping and trading companies and vessels and further isolate Pyongyang.
Treasury Secretary Steve Mnuchin said the new sanctions would help prevent North Korea from skirting restrictions on trade in coal and other fuel through “evasive maritime activities.” Last month three Western European intelligence sources told Reuters that North Korea shipped coal to Russia last year and that it was then delivered to South Korea and Japan in a likely violation of U.N. sanctions.
Mnuchin said the number of sanctions steps taken by the United States against Pyongyang since 2005 was now 450, with approximately half imposed in the last year.
“The only thing missing here today is action against Chinese banks,” Jonathan Shanzer of the Washington think tank Foundation for the Defense of Democracies said. “We know they continue to undermine our efforts to isolate North Korea.”