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Trump announces ‘largest-ever’ sanctions on North Korea Trump announces ‘largest-ever’ sanctions on North Korea
(about 1 hour later)
The Trump administration has launched new sanctions against 50 vessels, shipping companies, and trade businesses in the latest bid to ratchet up pressure on North Korea over its nuclear program. The Trump administration has launched new sanctions against 50 vessels, shipping companies and trade businesses in a bid to ratchet up pressure on North Korea over its nuclear program – the largest round of sanctions yet.
“Today I am announcing that we are launching the largest-ever set of new sanctions on the North Korean regime,” Trump said in excerpts of a speech he was to deliver later on Friday morning.He added the sanctions will target more than 50 “vessels, shipping companies, and trade businesses that are assisting North Korea in evading sanctions.”
It is the biggest package of sanctions yet against North Korea. The restrictions are yet another attempt to put pressure on Pyongyang over its nuclear and ballistic missile tests. North Korea last year conducted its sixth and largest nuclear test despite UN Security Council resolutions. The sanctions are directed at one person, 27 companies, and 28 vessels, according to a statement on the US Treasury Department’s website.
“Today I am announcing that we are launching the largest-ever set of new sanctions on the North Korean regime,” Trump said according to the released excerpts of his Friday speech. The North Korean shipping industry is the main way in which North Korea gets round sanctions to fund its nuclear weapons and ballistic missile programs, according to the US Treasury. The last round of US restrictions came in January 2018 when the US Treasury Department added 16 individuals, nine entities, and six ships to the North Korea sanctions blacklist, including two companies based in China.
He said the sanctions will target more than 50 “vessels, shipping companies, and trade businesses that are assisting North Korea in evading sanctions.” These come on top of sanctions launched by the UN Security Council in 2017 which targeted North Korea’s export of coal, iron, and iron ore.
The US has been imposing sanctions on North Korea on a regular basis over the last year in an attempt to put pressure on Pyongyang over its nuclear and ballistic missile tests. North Korea last year conducted its sixth and largest nuclear test despite UN Security Council resolutions. Both Russia and China have urged caution in response to North Korea. In January, Moscow and Beijing proposed a ‘double freeze’ initiative that envisaged the US and its allies ceasing all major military exercises in the region in exchange for Pyongyang suspending its nuclear and ballistic missile program. The initiative was rejected by Washington.
At the Winter Olympics this week, Pyongyang officials refused to meet with US Vice President Mike Pence amid threats of new sanctions, as well as US suspicions of a recent rapprochement between the South and North. 
Earlier, US Vice President Mike Pence hinted that Washington may be open to talks with North Korea. “We want to make sure North Korea understands us, and if there’s an opportunity for talks that can communicate the fixed policy of the United States of America to them, the president has made it clear he always believes in talking. But talking is not negotiation – talking is understanding one another,” Pence said.
Tensions between Pyongyang and Washington have remained acute since North Korea achieved several milestones in its nuclear program. Leader Kim Jong-un claimed during his New Year’s speech that the country possessed nuclear technology capable of reaching the US.
Russia has previously warned that further sanctions could escalate the strained relations. Russian envoy to North Korea Alexander Matsegora advised in January that a total ban on oil exports to North Korea could be interpreted as a declaration of war by Pyongyang.
“If the supplies of oil and oil product are stopped, it would mean a complete blockade of the DPRK [North Korea],” Matsegora said in an interview with Ria Novosti.
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