U.S. Imposes More North Korea Sanctions

March 5, 2018 Updated: March 5, 2018

The U.S. announced on Feb. 23, its “largest set of sanctions” to pressure North Korea into giving up its nuclear missile program.

“Our actions target shipping and trade companies, vessels and individuals across the world who we know are working with North Korea’s behalf. Specifically, we are sanctioning 27 entities, 28 vessels and one individual all involved in sanctions-evasion schemes,” announced Steven Mnuchin, U.S. Treasury Secretary.

The United States also proposed a list of entities to be blacklisted under separate United Nations sanctions, a move “aimed at shutting down North Korea’s illicit maritime smuggling activities to obtain oil and sell coal.”

President Donald Trump warned of a “phase two” if sanctions against North Korea did not work.

“I don’t think I’m going to exactly play that card, but we’ll have to see, if the sanctions don’t work, we’ll have to go phase two and phase two may be a very rough thing, may be very, very unfortunate for the world. But hopefully the sanctions will work,” said U.S. President Donald Trump.

North Korea has been developing nuclear-tipped missiles capable of reaching the U.S. mainland.