US President Donald Trump has signed a new executive order that increases the sanctions to North Korea.
The new sanctions, which come over its nuclear program, target companies and financial institutions conducting business with North Korea. This year, North Korea has tested many missiles, including some that have flown over Japan and into the sea.
The executive order that brings more sanctions to North Korea comes just weeks after the UN approved sanctions. North Korea has threatened the US over the approved sanctions.
The recent missile tests have risen tensions and have raised concern among neighbors. In the last few months, Japan has been conducting evacuation drills. The latest missile test from North Korea flew over Japan.
Trump said earlier today that the executive order is to cut off sources of revenue that fund North Korea’s missile program. He also revealed that China’s Central Bank had notified other banks in China to stop doing business with North Korea.
North Korea has been hit with a number of sanctions in recent years. The UN sanctions were approved by China and Russia but after they were changed. The sanctions initially proposed were reportedly much tougher than those approved.
In the last few months, the US and North Korea have threatened each other several times. On Tuesday’s UN General Assembly, the US President warned North Korea, saying it would totally destroy them if they moved against the US or allies. North Korea’s Foreign Minister responded to his speech by comparing it to a barking dog.
The sanctions by the UN restrict oil imports and ban textile imports. It is the ninth time that the UN sanctions North Korea since 2006. Earlier this year, China, its only ally, also announced that it would suspend coal imports for the rest of the year. China also agreed on the latest UN sanctions after they were softened.