By Stanley Chu 2/26/2018
President Trump said the Treasury Department has imposed what he calls the heaviest sanctions yet on North Korea during his speech at the Conservative Political Action Committee.
Treasury Secretary Steve Mnuchin, said these new sanctions were “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.”
Sixteen North Korean shipping countries were sanctioned along with nine international shipping companies. Mnuchin said these companies were suspected of aiding North Korea’s nuclear ambitions by doing business with them.
An official said these sanctions were not to punish North Korea but to “raise the cost of doing business with them.”