South Korea welcomes new United States sanctions on North Korea

Sunday, 25 Feb, 2018

"He explained to me how he's lowered the corporate tax rate for small and medium-sized companies and how he's focused on doing it for bigger-sized companies, and he congratulated us on our success and hopefully that will show success for him there [in Australia]".

Administration officials have said the sanctions measure, which targets those doing business with Russian defense and intelligence sectors, went into force on January 29. "Maybe very, very unfortunate for the world", Trump told the reporters.

U.S. president Donald Trump has rolled out fresh sanctions against North Korea-linked shipping assets, hailing the package as the "heaviest sanctions ever" levied on the Pyongyang regime.

In a statement on Friday, Treasury Secretary Steven Mnuchin said the U.S. is "aggressively targeting all illicit avenues used by North Korea to evade sanctions, including taking decisive action to block vessels, shipping companies, and entities across the globe that work on North Korea's behalf".

Treasury Secretary Steven Mnuchin said the US has now blacklisted virtually all ships being used by the North.

North Korean vessels, which are prohibited under the UN Security Council. "We must continue to stand together to prevent the brutal dictatorship from threatening the world with nuclear devastation". Global companies such as Shandong, China-based Weihai World-Shipping Freight and Shanghai, China-based Shangahi Dongfeng Shipping Co.

A 2018 USA intelligence community assessment said that North Korea's commitment to having nuclear weapons, which it describes as "the basis for its survival", suggests that Pyongyang "does not intend to negotiate them away". Ltd., and the Shanghai-based Shanghai Dongfeng Shipping Co. Ltd.

While that claim was questionable, it significantly tightens the noose on North Korean trading.

The actions block assets held by the firms in the United States and prohibit U.S. citizens from dealing with them.

Specifically, the going after one individual, 28 vessels and 27 shipping and trade entities the administration says are involved in helping the regime avoid sanctions.

Mnuchin added that Trump wanted other countries to know that if they helped North Korea's economy that there would be consequences.

North Korea has denied any involvement in the sinking.

The U.S. Department of the Treasury announced its largest North Korea-related sanctions package on Friday, including nine Chinese firms, according to an announcement on its website. Tsang has a record of sanctions evasion activities, according to Treasury.

United States officials worry meanwhile that North Korea is luring Moon into talks that are created to go nowhere.

Led by Kim Yong-chol, a vice chairman of the Central Committee of the North's ruling Workers' Party, the delegation is set to arrive in the South on Sunday for a three-day visit.

Skeptics, however, argue that Pyongyang may shun any dialogue with the United States side this week, as Washington has continued to irk it with a new package of sanctions, put more pressure on it for denuclearization and pushed to highlight its woeful human rights conditions.

China and Russian Federation have both been linked to illicit North Korean trading and the administration is working with both governments to curtail the transfers, he said.

But she did not elaborate on the details of what a "phase two" forecast by President Trump was.

When asked if Ivanka Trump will be seated near or meeting with Pyongyang officials, Sanders replied "We have no planned meetings or interactions with the North Koreans".