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US to impose 'largest' N Korea sanctions US to impose 'largest ever' N Korea sanctions
(35 minutes later)
US President Donald Trump says he is launching the "largest ever" set of new sanctions against North Korea. The United States is imposing a fresh set of sanctions on North Korea - the "largest ever" President Trump says.
The measures will target more than 50 ships and maritime transport companies. The measures target more than 50 ships and maritime transport companies in North Korea, but also China and Taiwan.
"Today I am announcing that we are launching the largest-ever set of new sanctions on the North Korean regime," Mr Trump said in sections of a speech released in advance.
North Korea is already under a range of international and US sanctions over its nuclear programme and missile tests.North Korea is already under a range of international and US sanctions over its nuclear programme and missile tests.
"The treasury department will soon be taking new action to further cut off sources of revenue and fuel that the regime uses to fund its nuclear programme and sustain its military by targeting 56 vessels, shipping companies, and trade businesses that are assisting North Korea in evading sanctions," Mr Trump says. But it continued tests last year, including tests of a nuclear weapon and a long-range ballistic missile capable of reaching the US.
The US says the new sanctions are designed to put a further squeeze on North Korea, cutting off sources of revenue and fuel for its nuclear programme and clamping down on evasion of already existing restrictions.
The US treasury department lists one individual and 27 companies.The US treasury department lists one individual and 27 companies.
Sixteen, mainly shipping companies, are based in North Korea, but five are registered in Hong Kong, two on the Chinese mainland, two in Taiwan, one in Panama and one in Singapore.Sixteen, mainly shipping companies, are based in North Korea, but five are registered in Hong Kong, two on the Chinese mainland, two in Taiwan, one in Panama and one in Singapore.
Twenty-eight ships are on the list, again mostly North Korean, but two are Panama-flagged, one from the Comoros and one Tanzania-flagged.Twenty-eight ships are on the list, again mostly North Korean, but two are Panama-flagged, one from the Comoros and one Tanzania-flagged.
The US has been building sanctions against the regime since 2008 and the latest restrictions could come on top of sanctions announced in November - directed at North Korean shipping operations, as well as Chinese companies trading with Pyongyang.The US has been building sanctions against the regime since 2008 and the latest restrictions could come on top of sanctions announced in November - directed at North Korean shipping operations, as well as Chinese companies trading with Pyongyang.
The United Nations followed that up in December with a raft of sanctions, backed by all 15 members of the Security Council, which included measures to cut North Korea's petrol imports by up to 90%.The United Nations followed that up in December with a raft of sanctions, backed by all 15 members of the Security Council, which included measures to cut North Korea's petrol imports by up to 90%.
'Charm offensive''Charm offensive'
Mr Trump's announcement comes as North Korea conducts what is being seen by Western powers as a charm offensive at the Winter Olympics in South Korea. The Trump administration's announcement comes as North Korea conducts what is being seen by Western powers as a charm offensive at the Winter Olympics in South Korea.
US leaders have been keen to stress that North Korea still poses a nuclear threat despite warming ties with the South.US leaders have been keen to stress that North Korea still poses a nuclear threat despite warming ties with the South.
The president's daughter, Ivanka, is in South Korea to attend the closing ceremony of the Games and Vice-President Mike Pence was there for the opening.The president's daughter, Ivanka, is in South Korea to attend the closing ceremony of the Games and Vice-President Mike Pence was there for the opening.
However, no meetings have taken place with senior North Korean officials attending, including Kim Yo-jong, sister of the North Korean leader Kim Jong-un.However, no meetings have taken place with senior North Korean officials attending, including Kim Yo-jong, sister of the North Korean leader Kim Jong-un.
North Korea has continued to conduct missile and nuclear tests despite sanctions against it.North Korea has continued to conduct missile and nuclear tests despite sanctions against it.
Last year saw the first test of a long-range missile thought capable of reaching Washington, but it is still not clear if North Korea has mastered the technology needed to miniaturise a nuclear device for a warhead.Last year saw the first test of a long-range missile thought capable of reaching Washington, but it is still not clear if North Korea has mastered the technology needed to miniaturise a nuclear device for a warhead.
North Korea's response to sanctionsNorth Korea's response to sanctions