Why U.S. sanctions on North Korea are about to get a much longer reach
New laws stand to substantially increase Washington's ability to put pressure on Pyongyang
A fresh round of sanctions on North Korea looks likely to become U.S. law, introducing a new layer to the already-complex network of unilateral and multilateral restrictions constraining North Korea.
The sanctions will strengthen financial prohibitions aimed at cutting off North Korea’s financial entities — and firms servicing them — from the U.S. banking system.
They would result in penalties, asset blocks, and a prohibition on correspondent accounts in the U.S. banking system for foreign financial firms that facilitate transfers on behalf of sanctioned North Korean persons and entities.
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