Thursday, 3 March 2016

Are sanctions enough to deal with North Korea? (Paul Park, Katharine H.S. Moon, Brookings)

North Korean leader Kim Jong Un walks on stands during the parade celebrating the 70th anniversary of the founding of the ruling Workers' Party of Korea, in Pyongyang October 10, 2015. Isolated North Korea marked the 70th anniversary of its ruling Workers' Party on Saturday with a massive military parade overseen by leader Kim Jong Un, who said his country was ready to fight any war waged by the United States. REUTERS/Damir Sagolj

On February 18, President Barack Obama signed the North Korea Sanctions and Policy Enhancement Act (H.R. 757) into law in response to the North Korean (DPRK) nuclear test in January and rocket launch in February. The law strengthens U.S. sanctions against North Korea by making it mandatory, not just discretionary, for the president to designate violating entities for sanctions. It grants substantial tools for employing secondary sanctions by requiring the U.S. Treasury to determine if North Korea is a “primary money laundering concern.” North Korean minerals and metals exports are especially targeted as potential sources of revenue that would feed the nuclear and missile programs.

http://www.brookings.edu/blogs/order-from-chaos/posts/2016/03/02-north-korea-sanctions-china-park-moon

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