North Korea Hit With Sanctions

North Korea

Supposedly in response to the hacking attack of the Sony Corporation, U.S. President Obama has recently authorized additional sanctions against North Korea. The sanction specifically target three state-owned agencies and 10 persons, who are all now prevented from engaging in any business or financial transactions with U.S. entities or persons. U.S. citizens are also prohibited from conducting any business with those who have been sanctioned.

In a Press Release issued on Friday Jan 2, 2015, White House press secretary Josh Earnest, states that the response of U.S. sanctions against North Korea, is only the initial portion of the response, but did not indicate if and when further actions will be initiated.

The North Korean agencies that have been sanctioned include the Korea Mining Development Trading Corporation, the Intelligence arm of the state, known as The Reconnaissance General Bureau, and the Korea Tangun Trading Corporation, which trade in commodities and technology. The 10 sanctioned individuals are either government employees, or representatives of the agencies.

By Dale Davidson

Sources:

CBC

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