Barr Applauds Latest North Korean Sanctions
Congressman Andy Barr (KY-06) today applauded the latest sanctions on North Korea announced by the Trump Administration, and encouraged the Senate and the President to go further by enacting H.R. 3898, the Otto Warmbier North Korea Nuclear Sanctions Act. Congressman Barr, who serves as Chairman of the House Financial Services Subcommittee on Monetary Policy and Trade with jurisdiction over the implementation of foreign sanctions, introduced the legislation to impose the harshest sanctions ever directed at Pyongyang. The bill passed in the House last year by a vote of 415 – 2.
“While we must continue to strengthen primary sanctions against North Korea, the truth is that we have had less success pressuring China, the North’s most important trading partner, to help hold Pyongyang accountable,” said Congressman Barr. “That's why we need tough secondary sanctions to cut off North Korean trade and overseas labor until this rogue regime signals that it's serious about limiting its nuclear program. While I am encouraged by this most recent set of Treasury designations targeting illicit shipping activities benefitting North Korea, I believe even greater pressure must be applied to Chinese banks that continue to provide a financial lifeline to the Kim regime. Legislation I introduced and that has passed the House by an overwhelming margin, the Otto Warmbier North Korea Nuclear Sanctions Act, would do just that by ensuring that the United States is maximizing its leverage against the Kim regime by imposing the harshest sanctions ever directed at Pyongyang.”