US Seeks to Cut North Korea off International Banking The United States moves to dissuade foreign banks from working with North Korea by threatening action against international financial transaction with Pyongyang. The US administration issued a warning Wednesday, with the Treasury Department designating North Korea as a “primary money laundering concern.” Treasury officials said they are moving to ban non-US banks and entities from processing dollar transactions on behalf of North Korea in a move to block Pyongyang’s international trade, according to the Wall Street Journal. “Today’s action is a further step toward severing banking relationships with North Korea, and we expect all governments and financial authorities to do likewise,” said Treasury’s top sanctions official, Adam Szubin. This May 10, 2016 picture released from North Korea shows a parade in the capital, Pyongyang. (AFP) The latest US move comes as North Korea has begun a 200-day battle to boost the country’s sanctions-...
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