U.S. sanctions target North Korea

SEOUL, South Korea – Secretary of State Hillary Rodham Clinton on Wednesday announced new U.S. sanctions against North Korea that are aimed at halting money-making schemes it uses to fund its nuclear program.

The U.S. will freeze assets of businesses and individuals associated with the North Korean regime, and collaborate with banks to stop illegal financial transactions. The sanctions also will target luxury items purchased by the regime’s ruling elite and seek to stop the abuse of diplomatic privileges in order to carry out illegal activities, Clinton said.

North Korea is already under wide-ranging international sanctions because of its nuclear program. The U.S. eased some restrictions in 2008 after Pyongyang agreed to allow inspectors access to its declared nuclear sites. That deal fell apart last year when the North announced that it was walking away from disarmament-for-aid talks.

“These measures are not directed at the people of North Korea, who have suffered too long due to the misguided priorities of their government,” Clinton said. “They are directed at the destabilizing, illicit and provocative policies pursued by that government.”