March 26, 2017

New Executive Order Sanctions North Korea

Today President Obama signed a new Executive Order allowing “authorities to go after the arms sales, luxury goods procurement, money laundering, counterfeiting of currency and other illicit financial activities that enrich the highest echelons of the North Korean government.” The Order lays blame to North Korea’s attack on a South Korean submarine that resulted in the death of 46 sailors last March, as well as the nuclear device that North Korea tested last year.

Additionally, another already existing Executive Order, which President Bush signed in 2005 and also sanctions North Korea for nuclear weapon concerns, was supplemented today to include sanctions against 5 more companies and 3 individuals who were in violation of the Order.

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