US sanctions 26 individuals, 8 North Korean banks

The US Treasury Department has just announced sanctions against 26 individuals and 8 banks related to North Korea's financial network.

North Korean leader Kim Jong-un visits the Kim Jong Suk Textile Factory in Pyongyang. Photo: Reuters/KCNA

The reason for this sanction was clearly stated by OFAC as a response to North Korea's continued development of weapons of mass destruction (WMD) and continued violations of UN Security Council resolutions.

In the list of individuals sanctioned by the US published on the OFAC website on September 26, it can be seen that the sanctioned individuals are North Korean citizens living in China, Russia, Libya and Dubai.

These are people identified as representatives of North Korean banks. OFAC also identified two banks as being part of the North Korean government.

US Secretary of State to visit China

In a related development, US Secretary of State Rex Tillerson will visit China on the 28th and 30th of this month to discuss the North Korean crisis as well as US-China trade cooperation.

US State Department spokeswoman Heather Nauert said Mr. Tillerson's trip will set the stage for President Donald Trump's trip to China in November.

Mr. Tillerson's visit to China comes amid heightened tensions between the United States and North Korea, China's neighboring ally.

On September 26, President Donald Trump continued to warn North Korea that any US military option in response to North Korea would be "devastating" for Pyongyang, but Mr. Trump said that the use of force was not Washington's first choice.

During a press conference at the White House, referring to the military option, Mr. Trump said: "We are fully prepared for the second option, not the preferred option."

Meanwhile, China continues to urge the parties to return to dialogue. US-China relations have also become more tense recently with Mr. Trump's criticism of China's trade practices and his urging Beijing to take a tougher stance on North Korea.

An unnamed US official said satellite imagery had detected a small number of North Korean military aircraft moving toward the country's east coast.

However, the official said the activity did nothing to change the assessment of Pyongyang's military situation.

According to Tuoi Tre