Imposing Additional Sanctions With Respect to North Korea

Sep 25, 2017

Summary

Adds more rules to block money and property of people and companies that help North Korea's weapons programs.

What problem does this solve?

North Korea's missile launches and nuclear tests are a threat to the United States and break international rules. This order stops money and resources from reaching North Korea by punishing anyone who trades with or supports them.

What does this order do?

Blocks property of those involved with North Korea

Freezes all property and money in the U.S. belonging to any person or company that operates in key North Korean industries, owns or operates a North Korean port, or trades with North Korea.

Sanctions foreign banks

Authorizes the Secretary of the Treasury to cut off foreign banks from the U.S. financial system if they knowingly handle significant transactions related to trade with North Korea.

Restricts travel for ships and aircraft

Bans any aircraft or ship that has visited North Korea from entering the United States for 180 days.

Suspends U.S. entry for sanctioned individuals

Prevents any person targeted by these sanctions from entering the United States as an immigrant or nonimmigrant.

Blocks funds from North Korean-controlled bank accounts

Freezes any funds in the U.S. that come from, go to, or pass through a foreign bank account controlled by a North Korean person.

Who does this affect?

Government of North Korea
Foreign companies and financial institutions doing business with North Korea
North Korean individuals and entities

What is the real world impact?

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Cuts off funding for weapons programs

Pressures North Korea to stop its nuclear and missile development by blocking the money it gets from international trade and finance.

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Pressures other countries to comply

Forces foreign banks and companies to choose between doing business with North Korea or the United States, aiming to isolate North Korea from the global economy.

When does this start?

This order became effective at 12:01 a.m. Eastern Daylight Time on September 21, 2017.