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Clinton Unveils New US Sanctions on N. Korea

Posted July. 22, 2010 11:13,   


U.S. Secretary of State Hillary Clinton announced Wednesday new U.S. sanctions on North Korea separate from those of the U.N., signaling a new campaign to cut off funds to the North’s leadership.

The announcement came in a joint news conference in Seoul after Clinton, U.S. Defense Secretary Robert Gates and their South Korean counterparts held their first joint summit on foreign affairs and defense.

Washington will freeze assets held by individuals and entities involved in proliferation activities and collaborate with banks to stop suspicious transactions by North Korean trading companies.

In addition to the new sanctions, Clinton said the U.S. will further strengthen U.N. Security Council resolutions 1718 and 1874.

She said the U.S. will try to “identify, pressure and put out of business North Korean entities involved in proliferation and other illicit activities overseas.”

Clinton also said the sanctions are directed at the North Korean leadership and their assets, hinting at imposing financial sanctions similar to the freezing of 25 million U.S. dollars of North Korean leader Kim Jong Il’s funds in an account at the Macau-based Banco Delta Asia in 2002.

“We did get some action from the North Koreans as a result of these steps that were taken at that time,” she said.

In a related move, Washington also appointed U.S. Special Adviser for Nonproliferation and Arms Control Robert J. Einhorn as coordinator for sanctions on the North. He will reportedly visit Seoul soon to fine-tune measures to cut off funds funneled to Pyongyang.