European Union imposes new sanctions against North Korea
Aug 13 2017 by Desiree Burns
The sanctions, imposed in response to North Korea's July ballistic missile tests, now apply to the state-owned Foreign Trade Bank, among others, according to an European Union news release.
The most recent escalation was prompted by sanctions against North Korea approved by the United Nations Security Council (UNSC) last week in response to July's launches of ballistic missiles by Pyongyang.
In response to North Korea's tests of an Intercontinental Ballistic Missile (ICBM) that could reach the USA mainland as far as Chicago and NY, the United Nations last week imposed the most severe restrictions so far aimed at curbing the country's vital export income.
The list now includes 62 individuals and 50 entities subject to an asset freeze and travel restrictions in the EU.
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South Korean President Moon Jae-in and Trump vowed on Monday to increase pressure on the North over its weapons programs shortly after the UN Security Council ratcheted up economic sanctions on Pyongyang.
The EU also urged North Korea to immediately halt provocations, while calling on other related countries to seek the denuclearization of the Korean Peninsula through peaceful ways.
In connection with the testing of Intercontinental ballistic missiles, the sanctions against the DPRK. Pyongyang has promised a "fair response" to the sanctions, without specifying, however, what it will be. Some could reach the mainland USA, according to Pyongyang.