A fresh round of sanctions on North Korea looks likely to become U.S. law, introducing a new layer to the already-complex network of unilateral and multilateral restrictions constraining North Korea.

The sanctions will strengthen financial prohibitions aimed at cutting off North Korea’s financial entities — and firms servicing them — from the U.S. banking system.  

They would result in penalties, asset blocks, and a prohibition on correspondent accounts in the U.S. banking system for foreign financial firms that facilitate transfers on behalf of sanctioned North Korean persons and entities.

The bill