Putting a bigger financial squeeze on North Korea
The Trump administration is considering sweeping sanctions aimed at cutting North Korea off from the global financial system as part of a broad review of measures to counter Pyongyang's nuclear and missile threat, a senior U.S. official said on Monday.This move would also put greater pressure on the Chinese to do something to stop the Norks nuclear program. It is a move I have been predicting and hopefully, it will be implemented soon. It is also one that should not be lifted just on the word of the North Korean leader, but only after their nuclear program is disassembled.
The sanctions would be part of a multi-pronged approach of increased economic and diplomatic pressure – especially on Chinese banks and firms that do the most business with North Korea – plus beefed-up defenses by the United States and its South Korean and Japanese allies, according to the administration official familiar with the deliberations.
While the long-standing option of pre-emptive military strikes against North Korea is not off the table – as reflected by U.S. Secretary of State Rex Tillerson's warning to Pyongyang during his Asia tour last week - the new administration is giving priority for now to less-risky options.