Proposed Sanctions on North Korea

Proposed Sanctions on North Korea

NewsMax.com Wires
Wednesday, Oct. 11, 2006

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WASHINGTON -- While urging the United Nations to demonstrate international condemnation of North Korea's announced nuclear test with economic and military sanctions, the Bush administration is maintaining its own strict curbs.

These are based primarily on a State Department conclusion that North Korea sponsors terrorism and on legislation requiring penalties for providing military technology to Iran and Libya.

The sanctions include:

A ban on U.S. defense exports and sales.

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A ban on U.S. foreign aid.

Opposition to entry into or support from international financial institutions.

A ban on trade or transfer of funds related to missile equipment and technology.

A ban on export of electronics and space system technology.

Restrictions on doing business with a bank, Banco Delta Asia SARL, in Macau, which the U.S. said had helped North Korea counterfeit American dollars and launder money. The U.S. says that bank has long provided financial services to North Korea.

U.S. food deliveries through the World Food Program have been halted due to difficulty making sure the food gets to the hungry people. Other food assistance to the economically pressed North Korean people has not been banned. Last year, donations of more than 5,000 tons of food were announced.

A small amount of trade is conducted. Last year, $5.7 million in cereals were sold to North Korea along with $2.3 million worth of vegetables, roots and tubers, $1.8 million in oil seeds and grains, and $1.5 million in textile art and needlecraft.

Imports were limited to $3 million in tools and cutlery and $3 million in iron or steel articles.

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