More sanctions are coming belligerent state North Korea’s way as European foreign ministers from the EU bloc will support plans to cut off sources of cash that’s helping rogue leader Kim Jong-Un to finance his continuous illegal missiles program.
Exports of European oil will be stopped from supplying North Korea. An EU investment ban in the isolated country will also be expanded.
Regime officials and companies will also be targeted through asset freezes and travel bans will be imposed against them.
Foreign Secretary Boris Johnson explained that the fresh wave of sanctions is still due to North Korea’s unrelenting nuclear arms ambitions and nuclear tests. Johnson said: “North Korea continues to pose an unacceptable threat to the international community, which is why the UK, working closely with our European allies, has secured a set of stringent new sanctions upon the regime.”
Other sanctions include reviewing the banned luxury goods list and personal payments sent to the rogue state will be capped at 5,000 euros down from the current 15,000 euros.
Johnson also said that the EU sanctions are in solidarity with international efforts to send a message to North Korea and punish Kim for his defiance. Johnson added: “As I have said before, the North Korean regime must bear full responsibility for the measures that the international community is enacting against it, including these sanctions.”
Johnson said of the plan: “Maximizing diplomatic and economic pressure on North Korea is the most effective way to pressure Pyongyang to halt its illegal and aggressive actions.”
Another country is taking tougher stance against North Korea, and it happens to be one of Pyongyang’s closest friends until recently. Malaysia announced it will halt all imports from North Korea, as part of global efforts to cut off funding over its nuclear and missile programs.”
The Southeast Asian country did not purchase any goods from the rogue state in June and July, after buying a total of $4.89 million worth of goods in the first five months of the year.
Malaysia’s ties with Pyongyang have been deteriorating since the assassination of Kim’s half brother at the Kuala Lumpur international airport in February. The U.S. and South Korea both said North Korea was behind the murder.
Kuala Lumpur has also banned its citizens from traveling to North Korea starting last month, two weeks after the crucial visit of North Korea Prime Minister Najib Razak to President Donald Trump at the White House. The meeting between the two leaders proved to be mutually beneficial.
The White House visit gave a political boost to Najib back home, with his popularity suffering as a result of a massive scandal involving a state investment fund, which the Department of Justice of the U.S. is investigating.
Trump raved about the meeting and victoriously announced that Najib “does not do business with North Korea any longer” and that he finds it “very important.”
Malaysia used to be a key source of revenue for the North. Citizens from both countries used to enjoy visa-free travel. Malaysia also hosted hundreds of overseas workers. There were also operations that funneled money to the Kim regime.
Earlier this year, Reuters reported that North Korea’s spy agency, the Reconnaissance Bureau, was running an arms operations from Kuala Lumpur.