U.S. President Donald Trump on Friday extended existing sanctions on North Korea for another year.

In a notice to Congress, Trump said he is renewing the "national emergency" with respect to North Korea that was first declared in Executive Order 13466 in June 2008 during the George W. Bush administration. Five other executive orders on North Korea sanctions have also been extended.

By law, the national emergency is automatically terminated unless the president renews it every year.

In the notice, Trump said the "existence and risk of proliferation of weapons-usable fissile material on the Korean Peninsula and the actions and policies of the North Korean government continue to pose an unusual and extraordinary threat to the national security, foreign policy and economy of the United States."

The move is seen as Washington's carrot and stick approach to keep sanctions in place while also extending conciliatory gestures to lure Pyongyang back to the dialogue table.

U.S. Special Representative for North Korea Stephen Biegun said this week that both sides understand the need for a flexible approach and there are no preconditions to resuming dialogue.

But hours before Chinese President Xi Jinping's arrival in North Korea, the U.S. Treasury Department announced sanctions on a Russian firm accused of helping Pyongyang evade sanctions.