South Korea, Japan welcome United Nations sanctions on North

Chinese State Banks Are Cracking Down On North Korean Business

Major Chinese banks suspending N. Korean transactions

The United Nations may have failed to slow North Korea's weapons programs, but the country's economy is already showing signs it is feeling the squeeze from the ongoing clampdown on trade, including a curb on fuel sales by China.

"Our factory in North Korea is about to go bankrupt", said an ethnically-Korean Chinese businessman in the border city of Dandong who sells cars refurbished at a factory in North Korea.

SUSAN THORNTON: Good morning, David.

China's large state banks have stopped opening new accounts for North Koreans and frozen remittances to North Korea. With tightening sanctions and usage of cryptocurrencies broadening, security experts say North Korea's embrace of digital cash will only increase. And the pressure is being ratcheted up on the regime.

"The alternative would be to allow a rogue regime to continue down an illegal path that is in direct defiance of the United Nations security council". We've had - the last two months unprecedentedly strong sanctions resolutions passed unanimously in the council. "The US, which the DPRK sees as the source of threats to its security, has been neither interested nor willing to consider responding to the DPRK's security concerns", she said. And so we're focused on making sure that there's an airtight group of countries that are working on enforcing these to make sure that they work.

U.S. President Donald Trump told reporters at the White House Tuesday the new sanctions are "just another very small step" and "nothing compared to what ultimately will have to happen" regarding North Korea.

THORNTON: Yes, that's right.

According to the joint Russian-Chinese de-escalation plan, North Korea would stop work on its missile program in exchange for the US and South Korea halting large-scale war games, allowing tensions to gradually subside.

According to the South's unification ministry, the KAPPC acts as "a window for improving relations with countries like the USA and Japan. while campaigning to change North Korea's closed and negative image". "I don't know if it has any impact, but certainly it was nice to get a 15 to nothing vote", he said, referring to the council's unanimous approval.

The foreign ministry also said that Russia is willing to continue to work on the ongoing Rajin-Khasan logistics project, which seeks to develop a railway system to transport coal from the Russian port of Khasan to the North Korean port of Rajin. Is that language helpful?

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The isolated state has previous threatened to launch rockets over Japan toward the USA territory in the Pacific.

If actors compromise an exchange itself (as opposed to an individual account or wallet) they potentially can move cryptocurrencies out of online wallets, swapping them for other, more anonymous cryptocurrencies or send them directly to other wallets on different exchanges to withdraw them in fiat currencies such as South Korean won, United States dollars, or Chinese renminbi.

THORNTON: Sure. Thank you.

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