The U.S. Senate Banking Committee on Tuesday unanimously passed bipartisan legislation on strengthening current U.S. sanctions on North Korea.
 
The committee convened a full session and passed the bill titled, the “Otto Warmbier Banking Restrictions Involving North Korea Act of 2017,” in honor of the American college student who died a few days after returning home from months of detainment in the North. 
 
The act aims to strengthen and expand U.S. sanctions on North Korea and its financial facilitators and supporters. The move is considered a secondary boycott as it essentially targets Chinese banks. The passage of the bill came as U.S. President Donald Trump is set to make his first state visit to China.
 
The act also seeks to strengthen congressional oversight of North Korea sanctions and allow states and local governments to divest from, or prohibit investment in, companies that engage in certain defined investment activity in North Korea. The bill also seeks to strengthen the Treasury’s role in combating human trafficking. 

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