Trump Signs New Sanctions Against North Korea
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The U.S. President, Mr. Donald Trump has signed a new order that boosts sanctions against North Korea over its nuclear weapons programme.
Trump Jong-un The US treasury has been authorized to target firms and financial institutions conducting business with the North.
The president equally said China's Central Bank had instructed other Chinese banks to stop doing business with Pyongyang.
It comes in less than two weeks after the United Nations (UN) approved new sanctions against the country over its latest nuclear test.
Tensions have risen in recent weeks over the North's continued nuclear and ballistic missile tests, despite pressure from world powers to stop the cause.
Announcing a new executive order on Thursday, 21st September 2017, President Trump said the measures were designed to "cut off sources of revenue that fund North Korea's efforts to develop the deadliest weapons known to humankind".
He singled out the North's textiles, fishing, information technology and manufacturing industries.
"For much too long North Korea has been allowed to abuse the international financial system to facilitate funding for its nuclear weapons and missile programs," he said.
He unequivocally stressed that the sanctions were targeting "only one country, and that country is North Korea".
The U.S president on Tuesday, 19th September 2017 vowed to "totally destroy" North Korea if it posed a threat to the US and its allies, in his first address as U.S president to the ongoing 72nd UN General Assembly taking place in New York.
Meanwhile, South Korea's president, Mr. Moon Jae-in, is meeting Donald Trump on the sidelines of the UN General Assembly, an annual event, bringing together leaders of the UN's 193 member states. Earlier, Mr. Moon said his country did not want the North to collapse, nor does it want an enforced reunification of the peninsular. However, he stated sanctions were necessary to bring Pyongyang to the negotiating table and force it to give up its nuclear weapons programme.
The latest UN sanctions - which came after the North's nuclear test on 3rd September 2017 - restrict oil imports and ban textile exports, in an attempt to starve it of fuel and income for its weapons programmes. It was the ninth round of UN sanctions to hit North Korea since 2006.
Reuters earlier reported, quoting four sources, that China had instructed its banks to strictly implement the UN sanctions. However, the Chinese authorities have not yet confirmed this development.
Three days after the UN's punitive measures were approved, Pyongyang fired off a second ballistic missile over Japan - its furthest-reaching yet.
The European Union (EU) officials have also revealed plans to impose fresh sanctions against the country, but a decision is unlikely to be taken until the middle of October.
Experts say North Korea has made surprisingly quick progress in its development of long-range missiles and nuclear weapons.
Scripted by: Rostrum
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