14 September 2017

News Story: U.S. warns China of sanctions over N. Korea

WASHINGTON, Sept. 12 (Yonhap) -- The United States on Tuesday threatened to impose additional sanctions on China if it fails to implement the new United Nations sanctions against North Korea.

Treasury Secretary Steven Mnuchin explicitly mentioned China, saying the U.S. would be willing to block North Korea's main ally and trade partner from accessing the global financial system.

"If China doesn't follow these sanctions, we will put additional sanctions on them and prevent them from accessing the U.S. and international dollar system, and that's quite meaningful," he told a conference in New York, broadcast on CNBC.

In June, the U.S. blacklisted China's Bank of Dandong as a "primary money laundering concern" in connection with North Korea's nuclear and ballistic missile programs. That move, according to Mnuchin, was unprecedented.

"I think we've absolutely moved the needle on China," he said. "I think what they agreed to yesterday was historic."

Read the full story at YonhapNews