As the world watches the diplomatic dance between the U.S. and the United Nations to thwart North Korea’s nuclear advancement, it appears China, North Korea’s largest trading partner, is the latest superpower to begin economic sanctions.
President Trump released a new Executive Order further blacklisting countries or individuals conducting business with North Korea that included fishing, textiles, manufacturing, and technology industries:
“Our new executive order will cut off sources of revenue that fund North Korea’s efforts to develop the deadliest weapons known to humankind.”
During an interview with reporters, he praised China and its central bank for ordering all banks to stand down in providing services and pull loans from existing customers. China further decreed in a document delivered to the central bank on Monday:
“At present, management of North Korea-related business has become an issue of national-level politics and national security,” according to the document seen by the sources.
The document directed banks to explain to any North Korean customers that “our bank is fulfilling our international obligations and implementing United Nations sanctions against North Korea. As such, we refuse to handle any individual loans connected to North Korea.”
As the U.S. and the United Nation’s continue to assert pressure on Kim Jong Un and Pyongyang’s nuclear and missile program, the addition of China’s participation may be the catalyst to ending the threat of war and resolve the conflict with a diplomatic solution.
Trump blasted the former U.S. administrations for allowing North Korea to build a nuclear program and emphatically stated, “tolerance for this distasteful practice must end now.”
