U.S. to crackdown on N.Korea access to international banking | NK News
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November 05, 2024
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U.S. to crackdown on N.Korea access to international banking

News comes as Congress pushes bill to prohibit cash and precious metal payments to DPRK

The U.S. Department of State on Tuesday pledged to block North Korea’s access to banking infrastructure at the international level a day after affiliates of  the Chinese HongXiang group were charged with illicit nuclear-related trades with North Korea.

Assistant Secretary of State Daniel Russel said the U.S. government would shut down any banking activities linked to North Korean Weapons of Mass Destruction (WMD) Programs, at a hearing of Subcommittee on Asia and the Pacific at the House Committee on Foreign Affairs held in Washington, D.C.

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