WP: Calls Growing in US for Strong Independent Sanctions against N. Korea

Write : 2017-09-12 16:27:02 Update : 2017-09-12 16:50:10

WP: Calls Growing in US for Strong Independent Sanctions against N. Korea

Calls are growing in the U.S. to apply strong independent sanctions on North Korea separate from UN Security Council sanctions which require coordination with China and Russia.
The Washington Post said in an opinion piece on Monday that the House Foreign Affairs Committee is seeking to apply sanctions on large Chinese entities.
The paper quoted the committee’s chairman, Ed Royce, as saying that sanctions that Washington has pursued against the North do not work and said that he believes that there is a need for the U.S. “to come in full throttle with cutting off institutions, primarily financial institutions domiciled in China.”
Royce said his committee wrote a letter to the administration listing large Chinese entities ripe for sanctions, including the Chinese Agricultural Bank and the China Merchant Bank. The Agricultural Bank ranks fourth in terms of assets in China while the Merchant Bank ranks sixth.
He said that the U.S. has “not had the resolve to put these sanctions on those major institutions,” adding that “it’s time to go to maximum pressure.”
Talk about the need to slap independent sanctions on Chinese banks also came up last week at the Senate Committee on Banking, Housing, and Urban Affairs.
The Post said that “the best option for stopping the mounting nuclear threat from Kim Jong-un’s regime is to muster maximum pressure without waiting for approval or cooperation from Beijing and Moscow.”

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